INSTANT VIEW 2-Slovak June industrial output below fcast

...said on 
Wednesday. 
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 KEY POINTS: 
 INDUSTRIAL OUTPUT      JUNE 07     JUNE 07 FCAST 
 pct change yr/yr       +12.0        +15.5 
  
(For full table please click on ..... [ID:nPRG000447]) 
 
- Analysts surveyed by Reuters had expected industrial 
output to have risen by 15.5 percent on an annual basis in June 
 . 
- Manufacturing production, which has the strongest weighting in 
the index, rises 15.6 percent on the year in June, after a 18.7 
percent increase in the previous month. 
- Mining rises by 2.4 percent, after 2.9 percent growth in May. 
- Production and distribution of electricity, gas and water 
falls 14.8 percent, compared with a 8.4 percent rise in May. 
- Within manufacturing output, car production rises by 70.5 
percent from a year ago, after a 76.1 percent jump in 
May. 
- The automotive industry is the main driver of Slovakia's 
economy. 
     
    JURAJ VALACHY, ANALYST, TATRA BANKA, BRATISLAVA 
    "The outcome is in line with developments from the previous 
month. There is no big surprise as the rise is still driven by 
production of transportation means. 
    "This result indicates that (June) foreign trade data could 
show a year-on-year improvement. GDP growth in the second 
quarter could also maintain its strong pace. 
    "These trends are in line with the central bank's prognosis, 
so interest rates should not change, and the main focus is on 
ECB (European Central Bank) rates now." 
 
MARKET REACTION: 
 - The crown showed no reaction to the data, trading at 33.370 
per euro  as of 0710 GMT. It was at 33.420 per euro 
late on Tuesday. 
     
LINKS: 
- For further details on June industrial output and other 
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]