INSTANT VIEW 2-Czech Sept C/A gap nearly treble mkt forecast

    PRAGUE, Nov 14 (Reuters) - The Czech current account posted 
a deficit of 13.94 billion crowns ($636.8 million) in September, 
nearly treble the median forecast in a Reuters poll. 
    The 12-month rolling deficit widened to 120.2 billion 
crowns, or 3.75 percent of this year's estimated gross domestic 
product (GDP), according to Reuters calculations, from 3.6 
percent in the prior month. 
 
KEY POINTS: 
(CZK billions)           Sept        Aug           Sept forecast 
Current Account         -13.94      -14.34         -5.00 
Financial Account        18.77        8.70          n/a 
Net Direct Investment    13.21       14.95          n/a 
 
 (For full table, double click on..................[nPRA001031]) 
 
- The monthly gap is mainly due to a 21.2 billion crown 
shortfall on the income balance, including dividend payouts, 
reinvested profits and other transfers of income. The income 
deficit widened from a 12.4 billion gap a month earlier. 
- The balance of foreign trade in both goods and services shows 
a 9.4 billion crown surplus for the month. 
- Net foreign direct investment reaches 13.2 billion crowns, of 
which the central bank estimates were 8.6 bilion crowns in 
reinvested profits. 
- Portfolio investments show a net 3.7 billion crown inflow, 
only the second month so far this year when the balance was 
positive. Portfolio capital has mostly flown out this year, as 
domestic investors bought into foreign securities. 
 
COMMENTARY: 
    PETR DUFEK, ANALYST, CSOB, PRAGUE 
    "The number marks a disappointment for the crown." 
 
MARKET REACTION: 
- Crown sheds an early marginal gain to hold steady on the day 
at 28.085 per euro <EURCZK=>, about 0.8 percent weaker from an 
all-time high of 27.875 posted last week. 
 
BACKGROUND: 
- Analyst expectations before data release       [ID:nL07771087] 
- Czech Sept foreign trade figures               [ID:nL03897588] 
- Polish Aug C/A                                 [ID:nL13177456] 
- Slovak Aug C/A gap                             [ID:nL31279761] 
- Hungary's Q2 C/A gap                           [ID:nL29821439] 
- Report on last Czech c.bank rate decision      [ID:nL26548848] 
                                                 [ID:nPRA001007] 
 
LINKS: 
- For further details on September 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=21.89 Czech Crown) 
  Keywords: ECONOMY CZECH BALANCE