INSTANT VIEW 2-Czech Aug C/A gap in line with forecast

    PRAGUE, Oct 13 (Reuters) - The Czech current account posted 
a deficit of 14.34 billion crowns ($637.6 million) in August, 
almost matching the median forecast in a Reuters poll. 
    The 12-month rolling deficit widened to 115 billion crowns, 
or 3.6 percent of this year's estimated gross domestic product 
(GDP), according to Reuters calculations, from 3.4 percent in 
the prior month. 
 
KEY POINTS: 
(CZK billions)            Aug       July           Aug forecast 
Current Account         -14.34      -23.45         14.70 
Financial Account         8.70       29.51          n/a 
Net Direct Investment    14.95       10.31          n/a 
 
 (For full table, double click on..................[nPRA000976]) 
 
- The monthly gap is mainly due to a 12.41 billion crown 
shortfall on the income balance, including dividend payouts, 
reinvested profits and other transfers of income. The income 
deficit narrowed from a 22.1 billion gap a month earlier. 
- The balance of foreign trade in both goods and services shows 
a 0.4 billion crown deficit for the month. 
- Portfolio investments show a net 9.4 billion crown outflow on 
purchases of foreign securities by domestic investors, after a 
5.4 billion outflow in July. 
 
COMMENTARY: 
    PETR DUFEK, ANALYST, CSOB BANK, PRAGUE 
    "The number is better than I had expected, but overall this 
year's developments are worse due to rising dividends, partly 
offset by re-investments. Foreign direct investments are not 
very encouraging... not much new investment is flowing in. 
    "The figures are favourable for the market, but I think that 
in pre-weekend trade, the crown will pay more attention to core 
and regional markets." 
 
MARKET REACTION: 
- Crown barely changed at 28.265 to the euro <EURCZK=> by 0810 
GMT. 
 
BACKGROUND: 
- Analyst expectations before data release       [ID:nL03199349] 
- Czech August foreign trade figures             [ID:nL06159828] 
- Polish July C/A                                [ID:nL12785297] 
- Slovak July C/A gap                            [ID:nPRG000076] 
- Hungary's Q2 C/A gap                           [ID:nL29821439] 
- Report on last Czech c.bank rate decision      [ID:nL27342627] 
                                 [ID:nL27365976] [ID:nPRA000961] 
 
LINKS: 
- For further details on August 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       <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)) 
 ($1=22.49 Czech Crown) 
  Keywords: ECONOMY CZECH BALANCE