INSTANT VIEW 1-Czech June industry output slows, lags forecast

...percent 
increase. 
**************************************************************** 
KEY POINTS: 
 
 (y/y change in pct)      June    May     June forecast 
 Industrial output        6.9     7.5        7.8 
 Industrial sales         7.9     8.6        n/a 
 Construction output     -4.4     1.4        n/a 
 
 (Full table of data............................[ID:nPRA001436) 
 
- Seasonally-adjusted output rose 1.0 percent month-on-month. 
 
    ANALYST COMMENT 
    DAVID MAREK, CHIEF ANALYST, PATRIA FINANCE, PRAGUE: 
    "A slight drop in industrial output growth does not 
represent any negative information given a lower number of 
working days. The industrial sector is benefiting from strong 
domestic demand and a boom in west Europe. 
    "Today's statistics do not change the view of the strength 
of Czech economic growth, nor do they change the outlook for 
interest rates." 
 
     
BACKGROUND: 
- June foreign trade figures.....................[ID:nL07596428] 
- Report on last Czech c.bank rate decision      [ID:nPRA001407] 
 [ID:nPRA001420] [ID:nL03817639] [ID:nL26800751] [ID:nL03732730] 
 
LINKS: 
- For further details on June 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] 
 
- 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                       
 
  
  Keywords: CZECH ECONOMY/INDUSTRY  
    

[PRAGUE/Reuters/Finance.cz]