INSTANT VIEW 2-Czech retail sales +4.3 y/y in Sept

...data 
released on Wednessday showed. 
**************************************************************** 
KEY POINTS: 
(change in percent)       Sep        Aug         Sep forecast 
RETAIL SALES (y/y)        4.3        7.3         6.5 
 
(Click on [ID:nPRA001606] for full table of September retail 
sales) 
 
- The headline, unadjusted figure includes car sales and 
repairs, fuel sales and spending on a variety of consumer goods, 
including foodstuffs. 
- Seasonally-adjusted retail sales rise by a real 0.1 percent 
month-on-month in September.  
- Excluding the auto segment, the seasonally-adjusted monthly 
gain amounted to 0.9 percent. 
- Ex-autos, retail sales up 8.4 percent year-on-year in real and 
seasonally and working-day adjusted terms. 
 
COMMENTARY: 
    JAN VEJMELEK, HEAD OF ECONOMIC AND STRATEGY RESEARCH, 
KOMERCNI BANKA, PRAGUE: 
    "At first glance, the dynamic of September retail sales is 
very low and would imply a disappointment. A look at the 
structure, however, does not confirm this conclusion. The 
slowdown in the year-on-year dynamic is caused by a lower 
dynamic in the auto segment, a lower number of working days and 
other seasonal factors....Consumer demand remains strong." 
     
MARKET REACTION: 
    The Czech crown unchanged at 26.600 to the euro. 
  
BACKGROUND: 
- Oct consumer inflation                         [ID:nL08387816] 
                                 [ID:nL08232250] [ID:nL08707305] 
- Sept industrial output figures                 [ID:nL08278721] 
- Report on last Czech c.bank rate decision      [ID:nL25710600] 
  [ID:nPRA001568] [ID:nPRA001584] [ID:nPRA001585] [ID:n25439215] 
 
LINKS: 
- For further details on September retail sales 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-slu 
 
- 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                       
 
 (Writing by Marek Petrus; Editing by Alan Crosby) 
  
  Keywords: CZECH ECONOMY/RETAIL  
    

[PRAGUE/Reuters/Finance.cz]