INSTANT VIEW 3-Slovak June industrial output below forecasts

                                
 BRATISLAVA, Aug 8 (Reuters) - Slovak industrial output rose
less than expected by a real 6.2 percent year-on-year in June,
accelerating from revised annual growth of 3.3 percent in May,
the Slovak Statistics Office said on Friday.
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 KEY POINTS:
 INDUSTRIAL OUTPUT     JUNE 08      JUNE 08 FCAST
 pct change yr/yr       +6.2           +7.0
 
- Manufacturing production, which has the strongest weighting in
the index, rises by 7.2 percent on the year June after a 2.7
percent increase in the previous month.
- Mining falls by 1.9 percent, after a 3.1 percent rise in May.
- Production and distribution of electricity, gas and water
is down by 1.9 percent, compared with a 8.9 percent annual rise
in May.
- Within manufacturing output, car production rises by 15.0
percent from a year ago, compared with 9.3 percent growth in
May.
- The automotive industry is one of the key drivers of Slovakia's
economy.
                                
 
  ANALYST COMMENT:
  MAREK GABRIS, ANALYST, CSOB BANK
                                
 "The June figure was close to our expectations of a 6
percent rise."
                                
 "The Dynamics, compared with May, have accelerated."
                                
 "A renewed rise in the electronics sector and sound car
manufacturing are expected to continue in July, but a temporary
slowdown is expected to come in August, due to car producers'
summer holidays."
                                
 
  MARIA VALACHYOVA, SENIOR ANALYST, SLOVENSKA SPORITELNA
                                
 "The June data were in line with our expectations."
                                
 "The production and distribution of electricity, gas and
water rose less than expected, but this is a volatile item. The
overall industrial output figure is good."
                                
 "Export-oriented sectors came in line with expectations, not
visibly influenced by a declining demand in the euro zone."
                                
 

LINKS:
- For further details on June industrial output and other
past data, Reuters 3000 Xtra users can click on the Slovak
Statistics Office's website:
                                
 http://wwww.statistics.sk/webdata/english/index2_a.htm
- For LIVE Slovak economic data releases, click on......<ECONSK>
- Schedule of upcoming indicator releases............<SK/ECON09>
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