Czech Republic - Factors To Watch on June 8

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ALL TIMES GMT (Czech Republic: GMT + 2 hours)

======================== ECONOMIC DATA ========================

* Q1 GDP at 0700 (forecast 6.1 pct annual growth rate)

* May inflation at 0700 (0.5 pct on month, 2.5 pct on year)

* May unemployment at 0700 (6.5 pct of workforce)

Real-time economic indicators......................

-------------------- RELEASED INDICATORS ----------------------

REVISION OF 2004-2006 GDP DATA: The economy expanded at a 6.4 percent annual clip in 2006, not at a 6.1 percent rate as thought earlier, after record growth of 6.5 percent in 2005, the statistics office said in a revision of data for 2004-2006.

Story: [nL07373835]

News: [nL07919745]

FIRST-QUARTER CURRENT ACCOUNT: The rolling 12-month deficit widened a touch to 3.2 percent of gross domestic product (GDP) from a downwardly revised 3.1 percent in the fourth quarter of last year, according to the central bank.

Instant View: [nL07484649]

Table: [nPRA001334]

Previous stories on Czech data............[CZ-RTRS-LEN-ECI]

Overview of economic data and forecasts.........

Updates on Czech currency............................[CZK/]

========================== TOP STORY ==========================

FISCAL REFORMS: The Czech government's fiscal reform package cleared an initial vote in the lower house of parliament but the centre-right administration still faces an uphill battle to turn the draft into law.

Story: [nL07283749]

Factbox on reform proposals: [ID:nL07797331]

Related news: [RTRS-LEN-CZ-GVD-POL]

==================== ELSEWHERE IN THE NEWS ====================

C.BANK MINUTES: The central bank (CNB) releases minutes from its May 31 governing board meeting at 0700. Policymakers raised interest rates by 25 basis points in the first policy tightening in 8 months at that session.

Related story: [ID:nL31276683] [RTRS-LEN-CZ-PLCY]

TELEFONICA O2 CR : The phone group, owned by Spain's Telefonica , is expected to receive five or six binding offers for some 300 buildings the company has put up for sale across the country, worth an estimated 9 billion crowns ($428.2 million) in total, writes the daily Mlada fronta Dnes.

Past stories on the company: [RTRS-LEN-CZ-SPTTsp.PR]

(Reuters has not verified any of the newspaper reports that may be quoted above and does not vouch for their accuracy.)

For Instant Views of key economic data click on [CZ/INSTANT] For summary of economic data and forecasts For diary of forthcoming Czech events [CZ/DIARY] For calendar of east European economic indicators [CONV/DIARY] TOP NEWS -- Emerging markets [TOP/EMRG] TOP NEWS -- Convergence watch [TOP/EAST]

For an economic indicator diary for the euro zone, the United States and other Group of Seven countries see

For real-time stock market index quotes click in brackets: Warsaw WIG20 Budapest BUX Prague PX

News editor of the day: Alan Crosby on +420 224 190 477; fax: +420 224 229 935

E-mail: prague.newsroom@reuters.com

Reuters Messaging: alan.crosby.reuters.com@reuters.net

($1=21.02 Czech Crown)

Keywords: CZECH FACTORS/