INDICATORS - Czech Republic - Dec 11

   (last updated on Dec 8 with Q3 GDP, Nov inflation and unemployment 
                     and Oct construction output) 
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KEY INTEREST RATES    2-WEEK REPO       DISCOUNT        LOMBARD 
rate                    2.50 pct        1.50 pct        3.50 pct 
last changed 
 (date of decision)   Sept 27, 2006   Sept 27, 2006   Sept 27,2006 
former rate             2.25 pct        1.25 pct        3.25 pct 
=============================================================================== 
CZECH GDP (in pct)             Q3/06    Q2/06    Q3/05    2005 
 Real change yr/yr              5.8      6.0      6.0      6.1 
 Final consumption              2.0      2.3      3.6      2.3 
  Household                     4.0      4.1      3.2      2.8 
  Government                   -2.6     -1.8      4.9      1.0 
 Gross capital formation       13.6     16.2      0.5      1.6 
  fixed capital formation       7.2      6.7      1.7      1.3 
 Foreign trade balance          n/a      n/a      n/a      n/a 
  exports of goods             12.8     13.0     11.7     11.6 
  export of services            2.3     -5.2      3.5      2.2 
  imports of goods             11.8     12.6      7.0      5.7 
  imports of services           2.4     -0.5     -2.4     -1 8 
    NOTE. In the third quarter, GDP totalled 813.1 billion crowns in nominal 
terms. All data from previous quarters are revised. 
 
CZECH BALANCE OF PAYMENTS      09/06    08/06    09/05  01-09/06 
 (CZK billions) 
I. CURRENT ACCOUNT            -13.94   -14.34    -8.41    -99.52 
 Trade balance                  7.46    -2.07     3.97     41.37 
 Balance of services            1.92     1.61     2.70      8.18 
 Income balance               -21.17   -12.41   -15.52   -141.63 
 Current transfers             -2.16    -1.47     0.43     -7.44 
II. CAPITAL ACCOUNT             0.55     0.50    -0.01      3.32 
III. FINANCIAL ACCOUNT         18.77     8.70    11.94     78.52 
 Net Direct Investment         13.21    14.95    27.32     80.95 
  Czech abroad                 -1.14    -1.17   -10.19    -24.98 
  Into Czech Republic          14.35    16.11    37.51    105.93 
 Net Portfolio Investment       3.68    -9.40   -28.12    -51.91 
  Assets                        0.83    -7.58   -10.32    -59.85 
  Liabilities                   2.85    -1.82   -17.80      7.94 
 Other Investments              0.20     6.95    13.62     52.95 
 Change in foreign exchange 
 reserves (minus = growth)     -0.45    -0.76    -1.22     -2.13 
IV. BALANCE OF OMISSIONS & 
 EXCHANGE RATE ADJUSTMENTS     -5.39     5.15    -3.51     17.68 
    NOTE. All 2006 figures are subject to revision. The 2005 figures are 
revised. The CNB releases the monthly figures according to ECB methodology. 
  
CZECH FOREX RESERVES   END-NOV 06     END-OCT 06     END-NOV 05 
 euro bln                23.905         24.253         24.968 
 $ bln                   31.560         30.793         29.386 
 CZK bln                668.620        684.421        722.313 
    NOTE. The central bank said it sold foreign currency worth an equivalent of 
18 million euros in spot foreign exchange market operations in October. It sold 
foreign currency worth 54.12 million euros in client operations in October. 
  
MONETARY BASE            END-OCT 06    END-SEPT 06    END-OCT 05 
 (in CZK bln) 
 CNB monetary base         341.7         318.5          293.0 
  currency                 308.1         307.9          280.6 
  bank reserves             33.5          10.6           12.4 
   mandatory reserves       36.7          35.8           33.2 
 
CZECH M2 MONEY SUPPLY      END-OCT 06   END-SEPT 06   END-OCT 05 
 M1 change yr/yr             16.4          16.3         10.0 
 M2 change yr/yr              9.9           9.2          5.0 
 Loans to businesses 
  and households yr/yr       20.1          20.4         18.6 
 M2-M1 (deposits)  yr/yr      2.1           1.1         -0.2 
 
CONSUMER INFLATION             NOV 06        OCT 06     NOV 05 
 pct change month/month         -0.1         -0.5        -0.3 
 pct change year/year            1.5          1.3         2.4 
    NOTE. The CSU added the sliding average rate of inflation over the past 12 
months was 2.6 percent. 
 
CZECH UNEMPLOYMENT           NOV 06       OCT 06       NOV 05 
 pct of workforce             7.3          7.4          8.4 
 number of available 
  jobless                   400,044      408,277      456,707 
 total number of jobless    432,573      439,788      490,779 
    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              OCT 06     SEPT 06     OCT 05 
 Industrial prices 
  pct change month/month      0.0        -0.2        0.4 
  pct change year/year        1.9         2.4        0.3 
 Construction prices 
  pct change month/month      0.2         0.3        0.2 
  pct change year/year        3.2         3.1        2.6 
 Agricultural prices 
  pct change month/month      0.1         1.7        2.3 
  pct change year/year        1.9         4.2       -6.3 
 Services 
  pct change month/month     -0.2         0.2        0.0 
  pct change year/year        3.2         3.4        2.8 
    NOTE. All 2006 data are subject to further revision. 
 
FOREIGN TRADE     OCT 06     SEPT 06      OCT 05     JAN-OCT 06 
 (in bln CZK) 
 exports          204.27  188.69(185.33)  170.50      1760.73 
 imports          199.92  180.72(177.86)  167.74      1716.65 
 balance            4.35    7.97  (7.46)    2.76        44.08 
 DYNAMICS OF TRADE (pct y/y change in CZK terms) 
 nominal exports   19.8    11.4   (9.4)     7.5         14.6 
 nominal imports   19.2    10.1   (8.4)     4.6         14.7 
    NOTE. All data are subject to further revision. Numbers may not add up due 
to rounding. 
 
CZECH STATE BUDGET    JAN-NOV 06     JAN-OCT 06    JAN-NOV 05 
 revenue (CZK bln)      821.23         748.76        769.79 
 expenditure            852.15         761.43        769.59 
 balance                -30.92         -12.67          0.20 
    NOTE. The 2006 budget was approved by parliament with a gap of 74.4 billion 
crowns. 
 
GOVERNMENT DEBT         SEPT 06    JUNE 06   MARCH 06   SEPT 05 
 (CZK bln) 
 total                   746.3      728.9     698.2      662.6 
 average maturity 
 (in years)                5.9        6.1       6.2        5.9 
   marketable debt       711.3      696.1     667.4      633.5 
   modified duration 
   (in years)              3.8        3.7       3.8        4.0 
    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              Q3/06      Q2/06     Q3/05   Q1-Q3/06  Q1-Q3/05 
 Monthly wage (nominal)    19,968     20,036    18,829    19.635    18,420 
  real change y/y (pct)     3.1        3.9       4.2       3.6       3.9 
  nominal change y/y        6.1        6.9       6.2       6.6       5.7 
 Private sector in CZK     20,104     20,182    18,924    19.780    18,515 
  real change y/y (pct)     3.2        4.1       3.5       3.8       3.4 
  nominal change y/y        6.2        7.1       5.5       6.8       5.2 
 Public sector in CZK      19,484     19,528    18,493    19,130    18,092 
  real change y/y (pct)     2.4        3.0       6.6       2.7       5.8 
  nominal change y/y        5.4        6.0       8.6       5.7       7.6 
    NOTE. All data are subject to further revision. 
 
INDUSTRIAL OUTPUT     SEPT 06    AUG 06    SEPT 05  JAN-SEPT 06 
 Real pct change y/y    5.8     7.7 (7.4)    8.6      10.5 
 Industrial sales       6.1     7.1 (6.9)    9.9      10.9 
 Productivity           4.8     5.5 (5.4)   10.4       9.2 
 Monthly wage 
  avg nominal           4.5     5.6 (5.5)    5.1       6.0 
  avg real              1.8     2.4 (2.3)    2.7       3.0 
    NOTE. Brackets denote previously reported data. All data are subject to 
further revision. Seasonally adjusted industrial output was up 1.6 percent 
month-on-month. 
 
CONSTRUCTION OUTPUT      OCT 06   SEPT 06    OCT 05   JAN-OCT 06 
 real pct change y/y      7.1    4.2 (4.1)   13.9       5.7 
 Monthly wage 
  avg nominal             9.4    6.8 (6.9)    4.0       7.0 
  avg real                8.0    4.1 (4.1)    1.4       4.2 
 Productivity 
  y/y change in pct       7.8    5.0 (4.5)    8.0       5.3 
 Construction permits 
  y/y pct chg             3.6   -6.8(-6.8)   -3.0      -5.9 
    NOTE. All figures are subject to further revision. Previously released data 
are in brackets. Seasonally-adjusted construction output rose a real 0.3 percent 
over the previous month. 
 
                           SEPT 06    AUG 06   SEPT 05    JAN-SEPT 06 
RETAIL SALES (pct chg y/y)   5.2       6.8       3.8         6.8 
 
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 ((Editing by Mirka Krufova, prague.newsroom@reuters.com; Reuters Messaging: 
mirka.krufova.reuters.com@reuters.net; +420 224 190 477))