INSTANT VIEW 1-Slovak prelim Q1 GDP below forecast

...gross 
domestic product (GDP) data. 
 
 KEY POINTS 
 GDP                  Q1/07 (estimate)   Q4/06     Q1/07 fcast 
 (pct change y/y)        +8.9            +9.6        +10.5 
 
- The Statistics Office does not release detailed data in its 
flash GDP estimate. 
- First quarter GDP in nominal prices totalled 414.3 billion 
crowns ($16.68 billion). 
  
CROWN REACTION: 
    The Slovak crown weakened after GDP data, easing to 33.600 
per euro  as of 0705 GMT, from 33.555 earlier in the 
session. 
     
BACKGROUND 
 - The flash GDP estimate was a disappointment for markets as 
analysts predicted record fast economic growth in the first 
quarter. 
 - The Slovak economy has been showing one of the highest growth 
rates in the European Union in the past few years. 
- GDP growth has been helped by car sector's rising export 
volume and solid domestic demand as households consumption rises 
after years of belt-tightening reforms. 
- Investments have also increased in the past year, mainly 
thanks to large project such as car factories of French PSA 
Peugeot  and South Korean Kia Motors . 
     
LINKS: 
- For further details on past data, Reuters 3000 Xtra users can 
click on the Slovak Statistics Office's website: 
http://wwww.statistics.sk/webdata/english/index2_a.htm  
     
- For LIVE Slovak economic data releases, click on...... 
- Schedule of upcoming indicator releases............ 
- Summary of short-term economic data forecasts...... 
 
- Stories on Slovak currency moves........................[SKK/] 
- Slovak speed money guide .............................. 
- Slovak benchmark state bond prices ................. 
- Slovak forward money market rates .................... 
  

[BRATISLAVA/Reuters/Finance.cz]