BRATISLAVA, Oct 12 (Reuters) - Slovakia's foreign trade
balance showed a surplus of 267.7 million euro in August, while
September annual headline inflation hit an all-time low of 0.6
percent, the Statistics Office said on Monday.
***************************************************************
KEY POINTS: FOREIGN TRADE AUG 09 AUG 09 FCAST
(mln euro) balance +267.7 +88.6
(Full Aug data table.............. [])
SLOVAK HEADLINE CPI SEPT 09 AUG 09 SEPT 08
pct change mo/mo 0.0 -0.1 +0.7
pct change yr/yr +0.6 +1.3 +5.4
(Full Sept data table ............ [])
* FOREIGN TRADE
- The July balance is revised to a surplus of 38.6 million euro
from a previously reported surplus of 49.4 million euro.
- The cumulative January-August trade balance shows a surplus of
517.8 million euro, compared with a 256.1 million euro deficit
for the same period last year.
- The Statistics Office does not release a breakdown of trade
data until next month.
* INFLATION
- September core prices, which exclude the impact of changes to
state-regulated prices and excise taxes, fall by 0.1 percent on
the month, putting the annual inflation rate at 0.6 percent.
- The Statistics Office revised inflation data since January to
reflect changes in the consumer basket in September.
- The category of housing, water, electricity, gas and other
fuel prices is up 0.2 percent month-on-month in September, after
0.4 percent rise in August.
- Prices of food and non-alcoholic beverages fall by 0.2
percent on the month in September after a 1.4 percent decline in
August.
- Prices of alcoholic beverages and tobacco rise by 0.2
percent on the month, after a 0.2 percent rise in August.
- Transportation prices, influenced mainly by oil costs,
fall by 0.4 percent on the month in September, after being flat
in August.
ANALYST COMMENT
JURAJ VALACHY, TATRA BANKA, ANALYST
INFLATION
"It was slower than we had expected, no major drivers.
"The trend remains, slowing dynamics year-on-year and
persisting weak demand-led inflation pressures.
"We should see similar figures in the coming months. There
is some risk that it could drop further."
TRADE
"It was broadly in line with our expectations, influenced by
the low (comparative) basis from last August.
"We see low investment activity, and relatively low costs of
oil.
"The surplus itself is not such a positive thing, as it was
caused by slowing investments. This is not positive for GDP
growth - as investments into economy do not rise."
BACKGROUND:
- Slovakia, which joined the euro zone on Jan. 1, has seen its
export-oriented economy hit by the global financial crisis as
demand for its products slows in main foreign markets.
- Slovakia's main export products are cars and electronics
goods, such as TV sets. The two sectors have been showing sharp
production declines early this year as consumers in western
Europe curtail spending.
- The trade balance had posted monthly surpluses between
February and May as Slovak industries imported less raw
materials and parts while households also cut spending.
- The full-year 2008 trade deficit was 713.9 million euro,
compared with a gap of 709.8 million euro in 2007.
LINKS:
- For further details on August foreign trade and other past
data, Reuters 3000 Xtra users can click on the Slovak Statistics
Office's website:
http://portal.statistics.sk/showdoc.do?docid=359
- For LIVE Slovak economic data releases, click on......<ECONSK>
- Schedule of upcoming indicator releases............<SK/ECON09>
- Summary of short-term economic data forecasts......<SK/ECON04>
- Slovak benchmark state bond prices .................<0#SKBMK=>
- Slovak forward money market rates ....................<SKKFRA>
(Reporting by Martin Santa)
