INSTANT VIEW 2-Czech March industry output surges,beats fcast

...sustaining its robust pace 
of expansion this year, data showed on Tuesday. 
 
KEY POINTS: 
(brackets denote previously reported data) 
(y/y change in pct)      March    Feb             March forecast 
 Industrial output       12.7     13.6 (15.4)       9.1 
 Industrial sales        13.2     15.1 (16.8)       n/a 
 Construction output     26.4     32.5              n/a 
 
 (Full table of data............................[ID:nPRA001299]) 
 
- Statistics bureau says the sector's growth holds in double 
digits for third consecutive month. 
- Seasonally-adjusted output rises 2.3 percent month-on-month. 
- Adjusted for seasonal factors, output increases 13.5 percent 
year-on-year. 
- Direct exports sales, accounting for slightly more than half 
of sales in the entire industrial sector, up 17.0 percent in 
real terms, slowing after a 22.7 percent rise a month ago. 
 
COMMENTARY: 
    ALES MICHL, ANALYST, RAIFFEISENBANK PRAGUE 
    "The effects of the unusually warm winter again had a 
favourable impact on the figures. 
    "The relatively high wage growth in the industrial sector 
and falling unemployment shows increasingly tighter conditions 
on the labour market. We see early signs of slight wage 
inflation which does not necessitate an immediate central bank 
response, but it does justify vigilance on its part." 
 
BACKGROUND: 
- March foreign trade figures....................[ID:nL09284340] 
                                                 [ID:nL09606545] 
- Report on last Czech c.bank rate decision      [ID:nPRA001284] 
                                 [ID:nPRG000331] [ID:nL26624395] 
LINKS: 
- For further details on March output and sales numbers and past 
data, Reuters 3000 Xtra users can click on the Czech Statistical 
Bureau's Website: 
    http://www.czso.cz/eng/csu.nsf/kalendar/2004-pru 
 
- For LIVE Czech economic data releases, click on        
- Instant Views on other Czech data                 [CZ/INSTANT] 
- Overview of Czech macroeconomic indicators            [CZ/ECI] 
 
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- For Czech money markets data click on                 
- Czech money guide                                       
- Czech benchmark state bond prices                    
- Czech forward money market rates                       
 
  
  Keywords: CZECH ECONOMY/INDUSTRY  
    

[PRAGUE/Reuters/Finance.cz]