INSTANT VIEW 1-Czech May C/A deficit drops faster than fcast

...following a 16.79 billion deficit a month 
earlier, data showed on Friday. 
    The 12-month rolling deficit narrowed slightly to 116.7 
billion crowns, or 3.6 percent of last year's gross domestic 
product (GDP) according to Reuters calculations, from 112.4 
billion crowns a month earlier. 
 
KEY POINTS: 
(CZK billions)           May         April          May forecast 
Current Account          -5.35      -16.79          -9.00 
Financial Account        11.32        6.45           n/a 
Net Direct Investment    11.54       12.52           n/a 
 
 (For full table, double click on..................[nPRA001395] 
 
- The monthly deficit is mainly due to a 14.84 billion crown 
deficit in the income balance caused by payments of dividends 
and estimated direct investment reinvested earnings. This was 
lower deficit than 23.16 billion in April. 
- Foreign direct investment inflows total 12.25 billion crowns, 
which the central bank estimated included about 9.46 bilion 
crowns in reinvested profits. 
- Portfolio investments show a net 1.95 billion crown inflow. 
 
BACKGROUND: 
- Analyst expectations before data release       [ID:nL02337062] 
- Czech May foreign trade figures                [ID:nL09337680] 
- Polish April C/A                               [ID:nL15775121] 
- Slovak April C/A gap                           [ID:nLPRG000399 
- Hungary's Q1 C/A gap                           [ID:nBUD002062] 
- Report on last Czech c.bank rate decision      [ID:nPRG000403] 
                                 [ID:nL10648783] [ID:nL28398864] 
 
LINKS: 
- For further details on May of payments numbers and past data, 
Reuters 3000 Xtra users can click on the Czech National Bank's 
website: 
    http://www.cnb.cz/en/statistics/bop_stat/ 
 
- For LIVE Czech economic data releases, click on        
- Instant Views on other Czech data                 [CZ/INSTANT] 
- Overview of Czech macroeconomic indicators            [CZ/ECI] 
 
- Key data releases in central Europe    [CEE-CONVERGENCE-WATCH] 
- For Czech money markets data click on                 
- Czech money guide                                       
- Czech benchmark state bond prices                    
- Czech forward money market rates