INSTANT VIEW 1-Czech July C/A gap easily beats mkt fcast

...87 billion deficit a month earlier, data 
showed on Wednesday. 
    The 12-month rolling deficit narrowed slightly to 102.3 
billion crowns, or 3.2 percent of last year's gross domestic 
product (GDP) according to Reuters calculations, from 113.7 
billion crowns a month earlier. 
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KEY POINTS: 
(CZK billions)           July        June          July forecast 
Current Account          -8.80      -12.87         -19.90 
Financial Account        -4.17        0.16           n/a 
Net Direct Investment    22.04        2.43           n/a 
 
 (For full table, double click on..................[nPRA001495] 
    NOTE. Analysts polled by Reuters had forecast a monthly 
current account deficit of 19.9 billion czech crowns ($1,000 
million) for July  . 
 
- The monthly deficit is mainly due to a 14.53 billion crown 
income balance shortfall caused by payments of dividends and 
estimated reinvested earnings on direct investments. The monthly 
gap shrinks from 27.0 billion in June. 
- Foreign direct investment inflows total 22.04 billion crowns, 
which the central bank estimated included about 10.4 bilion 
crowns in reinvested profits. 
- Portfolio investments show a net 11.4 billion crown outflow. 
The annual net portfolio investment outflow total has been 
gradually rising in recent months. 
- Other investment shows a 6.3 billion crown shortfall due to 
changes in international short-term positions of monetary 
financial institutions. 
- The capital account includes a surplus of 2.8 billion crowns 
of transfers from the EU budget. 
 
BACKGROUND: 
- Analyst expectations before data release       [ID:nL29913786] 
- Czech July foreign trade figures               [ID:nL04578891] 
- Polish June C/A                                [ID:nL13481007] 
- Slovak June C/A gap                            [ID:nPRG000473] 
- Hungary's Q1 C/A gap                           [ID:nL29295028] 
- Report on last Czech c.bank rate decision      [ID:nPRA001485] 
                  [ID:nL30781459] [ID:nL3044281] [ID:nL07203646] 
 
LINKS: 
- For further details on July 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