INDICATORS - Czech Republic - February 17

                                
          (last updated on Feb 16 with Dec construction output)
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KEY INTEREST RATES    2-WEEK REPO       DISCOUNT        LOMBARD
rate                    1.75 pct        0.75 pct        2.75 pct
last changed
 (date of decision)    Feb 05, 2009    Feb 05, 2009    Feb 05, 2009 
former rate             2.25 pct        1.25 pct        3.25 pct
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CZECH GDP (in pct)              Q4/08    Q3/08    Q4/07     2008
 Real change yr/yr               1.0      4.2      5.5       3.5
                                
 NOTE. All current data are seasonally adjusted and those from previous
quarters are revised.

CONSUMER INFLATION             01/09        12/08       01/08
 pct change month/month         1.5         -0.3         3.0
 pct change year/year           2.2          3.6         7.5
                                
 NOTE: The average rate of inflation over the past 12 months was 5.9 percent
in January.

CZECH BALANCE OF PAYMENTS      12/08    11/08    12/07  01-12/08
 (CZK billions)
I. CURRENT ACCOUNT            -20.63    -8.72   -19.61   -111.76
 Trade balance                 -9.55     2.40    -0.25    102.31
 Balance of services            5.88     5.30     3.09     82.28
 Income balance               -15.12   -15.00   -21.87   -286.57
 Current transfers             -1.84    -1.42    -0.59     -9.78
II. CAPITAL ACCOUNT             0.17     0.79     7.93     23.22
III. FINANCIAL ACCOUNT         28.09    17.22    21.29    130.52
 Net Direct Investment         12.75     8.92    23.31    160.31
  Czech abroad                 -2.73    -1.42    -4.85    -22.40
  Into Czech Republic          15.48    10.34    28.16    182.71
 Net Portfolio Investment      -3.68   -36.58    -2.15     -9.15
  Assets                       -0.45     0.20    -3.66     -4.46
  Liabilities                  -3.23   -36.78     1.50     -4.69
 Other Investments             21.55    42.23     6.16     19.46
 Change in foreign exchange
 reserves (minus = growth)     -2.53     2.64    -9.47    -40.11
IV. BALANCE OF OMISSIONS &
 EXCHANGE RATE ADJUSTMENTS     -7.63    -9.29    -9.60    -41.98
                                
 NOTE. All 2008 figures are subject to revision. The 2007 figures are
revised. The CNB releases the monthly figures according to ECB methodology.
 
CZECH STATE BUDGET       01/09        01-12/08         01/08
 revenue (CZK bln)       85.03        1,064.57         98.87
 expenditure             84.54        1,083.94         89.14
 balance                  0.48          -19.37          9.73
                                
 NOTE. The full-year 2009 budget was approved by parliament with a gap of
38.1 billion crowns.

FOREIGN TRADE       12/08       11/08       12/07      01-12/08
 (in bln CZK)
 exports           153.34      194.73      177.12      2,463.12
 imports           165.14      195.20      179.92      2,393.73
 balance           -11.79       -0.47       -2.80         69.39
 DYNAMICS OF TRADE (pct y/y change in CZK terms)
 nominal exports   -13.4       -18.0         4.5          -0.7
 nominal imports    -8.2       -13.2         3.9           0.1
                                
 NOTE. All data are subject to further revision. Numbers may not add up due
to rounding.

CZECH FOREX RESERVES    END-JAN 09     END-DEC 08     END-JAN 08
 euro bln                27.246         26.580         24.252
 $ bln                   34.922         37.000         36.060
 CZK bln                759.345        715.804        632.245
                                
 NOTE. The central bank said it sold foreign currency worth an equivalent of
60 million euros in spot foreign exchange market operations in December. It
bought foreign currency worth 100.4 million euros in client operations in
December.
 
CZECH M2 MONEY SUPPLY      END-DEC 08   END-NOV 08   END-DEC 07
 M1 change yr/yr              7.4          8.1         16.0
 M2 change yr/yr              6.5          7.9         13.2
 Loans to businesses
  and households yr/yr       16.1         18.6         26.6
 M2-M1 (deposits)  yr/yr      5.2          7.6          9.6