INSTANT VIEW 2-Czech Q3 real average wage rises 5.0 pct y/y

...sign of the 
country's economic boom. 
**************************************************************** 
KEY POINTS: 
(y/y change in pct)    Q3/07    Q2/07    Q1-Q3/07   Q1-Q3/06 
 real change            5.0   5.0(4.9)      5.3        3.5 
 nominal change         7.6   7.5(7.4)      7.6        6.5 
 (brackets denote previously reported data) 
 
 (Full table of Q3 data...........................[nPRA001625]) 
  
- Gross average wage in the third quarter stands at 21,470 
crowns ($1,194). 
- Average seasonally-adjusted nominal gross wage rises 1.6 
percent in the third quarter from the previous three months. 
 
    COMMENTARY: 
    PETR DUFEK, ANALYST, CSOB BANK, PRAGUE 
    "Wage growth corresponds to the state of the economy and is 
in line with previous developments. Five percent real wage 
growth is temporary, so it is not necessary to draw any strong 
conclusions. The picture of the economy is not changing, and the 
CNB (central bank) should not be caught off guard by this number 
at its upcoming meeting (on Thursday). It still holds true that 
inflation is on the rise because of other than domestic demand 
impulses. The CNB will have to decide when mulling interest 
rates what is more important, whether rising inflation or the 
exchange rate." 
 
 BACKGROUND: 
- October producer prices figures                [ID:nL14283395] 
- October consumer inflation                     [ID:nL08387816] 
                                 [ID:nL08232250] [ID:nL08707305] 
- September 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 third-quarter wages 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-pmz 
 
- 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 David Stamp) 
 ((prague.newsroom@reuters.com; +420 224 190 477; Reuters 
Messaging: marek.petrus.reuters.com@reuters.net 
 ($1=17.98 Czech Crown) 
  Keywords: CZECH WAGES/  
    

[PRAGUE/Reuters/Finance.cz]