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ZLATOVNA ECONOMIC NEWS
A quick look at what's new in the world of economic policy, finance and precious metals.

Economy: The Indian economy is in recession for the first time in history due to coronavirus. Analysts: Budget deficit could be below CZK 400 billion. Deflation in Germany deepened even further in November. The Slovak economy slowed down the rate of decline to 2.4 percent. The new head of the Office for the Protection of Consumer Rights and Fundamental Freedoms Petr Mlsna will take office. Atradius: The world economy will fall by 4.3 percent this year,. Czechs usually save on energy, companies pay extra for electricity. Coface: The Czech Republic has 78 representatives in the ranking of the 500 largest companies in the region. Consumer confidence in Britain has fallen to a six-month low. Křetínský is reorganizing his group, Tkáč will probably return to EPH. The Bundesbank expects strong growth in the German economy after the second wave of the virus. A record number of acquisition companies have entered the stock market. One in three Europeans says they have lost some of their income due to the pandemic. WTO: World trade has recovered significantly, but a slowdown is likely to follow. Survey: Companies are coping better with the second wave of the pandemic than the first. Business activity in the eurozone weakened sharply in November. Consumer confidence in Germany continues to fall due to the lockdown. IMF: The global economy is recovering, but may lose momentum. Analysts: The economic recovery is behind the growth in wages, the situation will worsen. Confidence in the economy has fallen again, most among service entrepreneurs.

Stock markets: The price of gold has fallen below $1,800, the lowest in almost five months.

Finance: US bank profits rebounded in the third quarter, but are lower year-on-year. The value of banknotes and coins in circulation exceeded CZK 700 billion for the first time. Experts: The Czech National Bank indicated that it is not afraid of further growth in real estate prices. CNB report: Strong growth in mortgages and housing prices is surprising. The Czech National Bank imposed a fine of CZK 20 million on Expobank CZ. Provident: More clients now need to borrow for current expenses. The Czech National Bank approved support of CZK 47 billion by October, more than in two years. According to the analysis, the risk for Slovak banks is loan defaults. The Czech National Bank left the reserve to protect the credit market at 0.5 percent. The Czech National Bank supported the financing of more than 10,000 projects, a record. RTR: Morgan Stanley will move EUR 100 billion from Britain to Frankfurt. NERV wants to initiate the creation of a national development bank in the future. Central Bank: British banks will withstand Brexit and Covid-19. McKinsey: Banks expect four years of lower profits due to the pandemic. Golden Gate CZ's revenues increased by 110 percent to three billion CZK. Fed: Economic activity in several regions slowed down due to the virus. CNB drew attention to the activities of CROWD1 Network and Impact Crowd. Global Payments: Retail spending fell by almost a fifth. ÚOHS: Česká spořitelna may buy Sparkasse. November inflation was lower than the CNB estimated. Banks: 89 percent of clients with deferred loans returned to repayment. CBA: The excess of corporate deposits with banks over loans doubled in October. Czech household debts with banks rose to 1.842 trillion in October. Moore CR Group buys Pagina Bohemia and Pagina Tax.