• According to Deputy Minister of Finance, Mr. Eduard Janota, state budget deficit could reach better result this year than originally planed. Deficit could be by CZK 10-15bn lower than previous estimate of CZK 91bn thanks to higher tax incomes. • Purchasing Manager’s Index in US industry (ISM) in August declined to 52.9 which is in line with expected 53pts. • According to Prague Securities Centre, government stake at CEZ decrease to 67.44% from 67.59% which means that further 880k shares were sold. • According to revised data, Eurozone’s GDP in the 2Q07 increased by 2.5% y/y and 0.3% q/q. These are the same data showed by ready estimate and they are in line with expectations. Eurozone’s producers’ price index in July increased by 1.8% y/y. • European Commission estimates that growth of Eurozone’s GDP in the 3Q07 is going to reach 0.3-0.8% q/q and in the 4Q07 it should reach 0.2-0.8% q/q.