INDICATORS - Czech Republic - Sept 4

...INTEREST RATES    2-WEEK REPO       DISCOUNT        LOMBARD 
rate                    3.25 pct        2.25 pct        4.25 pct 
last changed 
 (date of decision)    Aug 30, 2007    Aug 30, 2007    Aug 30, 2007 
former rate             3.00 pct        2.00 pct        4.00 pct 
=============================================================================== 
CZECH GDP (in pct)             Q1/07    Q4/06    Q1/06    2006 
 Real change yr/yr              6.1      6.1      6.6      6.4 
 Final consumption              4.7      4.6      3.8      3.4 
  Household                     6.7      5.4      3.8      4.4 
  Government                    0.4      2.4      3.8      1.1 
 Gross capital formation       13.4     10.2      7.5     11.7 
  fixed capital formation       1.5      8.1      6.8      7.6 
 Foreign trade balance          n/a      n/a      n/a      n/a 
  exports of goods             16.7     19.2     21.8     16.9 
  export of services           -1.3      3.2     17.9      9.1 
  imports of goods             17.9     19.0     18.7     15.6 
  imports of services           5.1      4.4     27.8     12 8 
    NOTE. In the first quarter, GDP totalled 816.1 billion crowns in nominal 
terms. All data from previous quarters are revised. 
 
CZECH BALANCE OF PAYMENTS      06/07    05/07    06/06  01-06/07 
 (CZK billions) 
I. CURRENT ACCOUNT            -13.33    -5.35   -22.46    -22.09 
 Trade balance                 12.09     9.57     9.46     69.38 
 Balance of services            2.98     2.37     3.64     14.21 
 Income balance               -27.62   -14.84   -34.58    -96.27 
 Current transfers             -0.78    -2.45    -0.99     -9.41 
II. CAPITAL ACCOUNT             0.00    -0.01     1.46      2.87 
III. FINANCIAL ACCOUNT         11.00    11.32    14.72     13.50 
 Net Direct Investment          9.58    11.54     6.14     59.92 
  Czech abroad                 -0.80    -0.71    -2.25     -6.25 
  Into Czech Republic          10.39    12.25     8.39     66.16 
 Net Portfolio Investment      -9.41     1.95     2.81    -26.02 
  Assets                      -12.10    -9.22    -0.97    -46.07 
  Liabilities                   2.69    11.17     3.77     20.05 
 Other Investments              1.52    -9.66     0.82    -43.09 
 Change in foreign exchange 
 reserves (minus = growth)      2.99     4.81     0.89      7.71 
IV. BALANCE OF OMISSIONS & 
 EXCHANGE RATE ADJUSTMENTS      2.34    -5.96     6.29      5.72 
    NOTE. All 2007 figures are subject to revision. The 2006 figures are 
revised. The CNB releases the monthly figures according to ECB methodology. 
  
CZECH FOREX RESERVES   END-JULY 07    END-JUNE 07    END-JULY 06 
 euro bln                23.211         23.166         24.040 
 $ bln                   31.817         31.292         30.690 
 CZK bln                650.711        665.203        685.865 
    NOTE. The central bank said it sold foreign currency worth an equivalent of 
76 million euros in spot foreign exchange market operations in June. It sold 
foreign currency worth 38 million euros in client operations in June. 
  
MONETARY BASE           END-JULY 07   END-JUNE 07    END-JULY 06 
 (in CZK bln) 
 CNB monetary base         365.5         372.7          326.7 
  currency                 335.4         336.4          300.4 
  bank reserves             30.1          36.2           26.2 
   mandatory reserves       40.6          40.2           35.1 
 
CZECH M2 MONEY SUPPLY     END-JULY 07   END-JUNE 07  END-JULY 06 
 M1 change yr/yr             15.5          15.0         17.3 
 M2 change yr/yr             11.4          11.2          8.6 
 Loans to businesses 
  and households yr/yr       22.5          22.0         21.7 
 M2-M1 (deposits)  yr/yr      6.0           6.6         -1.0 
 
CONSUMER INFLATION            JULY 07      JUNE 07     JULY 06 
 pct change month/month         0.4          0.3         0.4 
 pct change year/year           2.3          2.5         2.9 
    NOTE. The CSU added the sliding average rate of inflation over the past 12 
months was 2.1 percent. 
 
CZECH UNEMPLOYMENT          JULY 07      JUNE 07      JULY 06 
 pct of workforce             6.4          6.3          7.9 
 number of available 
  jobless                   354,785      346,835      434,327 
 total number of jobless    376,608      370,791      458,270 
    NOTE. The number of available jobless shows how many people registered as 
unemployed by labour offices are able to start work shortly. The total number of 
jobless is for all jobless registered by labour offices. 
 
PRODUCER PRICES             JULY 07     JUNE 07    JULY 06 
 Industrial prices 
  pct change month/month      0.2         0.7        0.7 
  pct change year/year        4.1         4.6        2.4 
 Construction prices 
  pct change month/month      0.3         0.5        0.4 
  pct change year/year        3.6         3.6        3.2 
 Agricultural prices 
  pct change month/month      0.0         1.7       -2.0 
  pct change year/year       11.3         9.1        1.8 
 Services 
  pct change month/month     -0.9        -0.4       -0.2 
  pct change year/year        0.8         1.5        3.4 
    NOTE. All 2007 data are subject to further revision. 
 
FOREIGN TRADE     JULY 07    JUNE 07      JULY 06    JAN-JULY 07 
 (in bln CZK) 
 exports          194.31  211.05 (210.76)  160.96     1,406.07 
 imports          195.04  203.02 (201.44)  164.34     1,350.40 
 balance           -0.73    8.03   (9.32)   -3.39        50.67 
 DYNAMICS OF TRADE (pct y/y change in CZK terms) 
 nominal exports   20.7    14.8   (14.5)     n/a         17.3 
 nominal imports   18.7    15.0   (14.0)     n/a         15.3 
    NOTE. All data are subject to further revision. Numbers may not add up due 
to rounding. 
 
CZECH STATE BUDGET    JAN-AUG 07     JAN-JULY 07   JAN-AUG 06 
 revenue (CZK bln)      656.66         581.18        597.52 
 expenditure            634.44         561.50        603.96 
 balance                 22.23          19.68         -6.44 
    NOTE. The 2007 budget was approved by parliament with a gap of 91.3 billion 
crowns. 
 
GOVERNMENT DEBT          JUNE 07   MARCH 07   DEC 06     JUNE 06 
 (CZK bln) 
 total                   856.1      811.7     802.5      728.9 
 average maturity 
 (in years)                6.4        6.5       6.2        6.1 
   marketable debt       817.0      774.4     765.0      696.1 
   modified duration 
   (in years)              4.0        4.1       4.0        3.7 
    NOTE. Data show levels as of the end of the period listed. The modified 
duration figure stands for marketable debt only and includes the Finance 
Ministry's interest rate swap transactions. Average maturity was within the 
ministry's target of 6.0-7.0 years. 
 
CZECH AVG WAGE              Q2/07      Q1/07     Q2/06     H1/07     H1/06 
 Monthly wage (nominal)    21,462     20,399    19,982    20.938    19,453 
  real change y/y (pct)     4.9        6.2       3.6       5.5       3.8 
  nominal change y/y        7.4        7.8       6.6       7.6       6.8 
 Private sector in CZK     21,687     20,656    20,116    21.174    19,596 
  real change y/y (pct)     5.3        6/7       3.7       6.0       4.0 
  nominal change y/y        7.8        8.3       6.7       8.1       7.0 
 Public sector in CZK      20,673     19,501    19,520    20,106    18,956 
  real change y/y (pct)     3.4        4.5       2.9       4.0       2.9 
  nominal change y/y        5.9        6.1       5.9       6.1       5.9 
    NOTE. All data are subject to further revision. 
 
INDUSTRIAL OUTPUT     JUNE 07    MAY 07    JUNE 06   JAN-JUNE 07 
 Real pct change y/y    6.9       7.5       10.3       10.4 
 Industrial sales       7.9       8.6       10.6       11.4 
 Productivity           5.3       5.8        9.2        8.2 
 Monthly wage 
  avg nominal           6.5       7.2        6.2        7.7 
  avg real              3.9       4.7        3.2        5.6 
    NOTE. All data are subject to further revision. Seasonally adjusted 
industrial output was up 1.0 percent month-on-month. 
 
CONSTRUCTION OUTPUT     JUNE 07    MAY 07   JUNE 06  JAN-JUNE 07 
 real pct change y/y     -4.4       1.4      10.0      12.7 
 Monthly wage 
  avg nominal             3.4       9.2       4.9      10.1 
  avg real                0.9       6.6       2.0       7.9 
 Productivity 
  y/y change in pct      -2.6       2.7       9.6      12.5 
 Construction permits 
  y/y pct chg           -21.5     -18.2     -10.9      -8.4 
    NOTE. All figures are subject to further revision. Seasonally-adjusted 
construction output dipped 0.2 percent over the previous month. 
 
                           JUNE 07    MAY 07   JUNE 06    JAN-JUNE 07 
RETAIL SALES (pct chg y/y)   7.2       7.0       6.4         8.3