• Revenues from retail increased by 7.3% y/y in August. The slow-down was caused by fewer working days and a smaller growth of non-food products. • Pavel Řežábek from CNB warned against rush into the Eurozone. He added than the Czech crown should strengthen if the Czech economy grew faster than the European and if the inflation remained low. • Fed states in its Beige Book that the American economy continues to grow. However, its pace in some sectors is slowed down by a decline of the real-estate market and problems on the credit market. Problems connected with the real-estate market have been already pointed out by Fed representatives, the US government and IMF. • US inflation reached 0.3% in September, which is slightly more than expected. Core CPI increased by the expected 0.2%. • IMF upgraded the growth estimate of the Czech economy in 2008. GDP should increase by 4.6% as opposed to an earlier estimate of 4.3%. IMP estimates a growth of 5.6% this year.