INSTANT VIEW 2-Czech Sept industry output growth lags fcasts

    PRAGUE, Nov 9 (Reuters) - Czech industrial output rose by a 
slower than expected 5.8 percent year-on-year rate in September, 
after upwardly revised 7.7 percent growth in the prior month, 
data released on Thursday showed. 
 
KEY POINTS: 
(brackets denote previously reported data) 
(y/y change in pct)     Sept      Aug             Sept forecast 
 Industrial output       5.8      7.7 (7.4)         8.0 
 Industrial sales        6.1      7.1 (6.9)         n/a 
 
 (Full table of data............................[ID:nPRA001024]) 
 
- Seasonally adjusted output rises 1.6 percent month-on-month. 
- Adjusted for the number of working days, output up 7.6 
percent, on an annual basis. 
- The statistics bureau says rise in year-on-year growth due 
mainly to car production, which accounts for two full percentage 
points of the increase. 
- Car production accelerates to post 10.5 percent annual growth, 
after a 6 percent jump a month earlier. 
- Direct exports sales up 9.1 percent in real terms after a 8.3 
percent rise in August. 
  
COMMENTARY 
    JAN VEJMELEK, HEAD OF ECONOMIC AND STRATEGY RESEARCH, 
KOMERCNI BANKA, PRAGUE 
    "The September result is a little disappointing...but there 
is no reason to be pessimistic. The slowing is also due to the 
high statistical base in the year-on-year comparison. The 
industrial data show that high single-digit dynamics will 
continue." 
     
CROWN MARKET 
    The Czech crown shows little reaction to the data, trading 
at 28.049 to the euro <EURCZK=> at 0814 GMT. 
     
BACKGROUND: 
- Sept foreign trade figures.....................[ID:nL03897588] 
- Report on last Czech c.bank rate decision      [ID:nL26548848] 
                                                 [ID:nPRA001007] 
 
LINKS: 
- For further details on September output and sales numbers 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-pru 
 
- For LIVE Czech economic data releases, click on       <ECONCZ> 
- 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                <CZKVIEW> 
- Czech money guide                                      <CZK/1> 
- Czech benchmark state bond prices                   <0#CZBMK=> 
- Czech forward money market rates                      <CZKFRA> 
 
 ((Writing by Marek Petrus; Editing by Alan Crosby; 
prague.newsroom@reuters.com; Reuters Messaging: 
marek.petrus.reuters.com@reuters.net; +420 224 190 477)) 
  Keywords: ECONOMY CZECH INDUSTRY