UKRAINE: Zelenskyy Confirms 'Coalition Of Willing' NSA & Ldrs Meetings Next Week
Following the phone call between Ukrainian President Volodymyr Zelenskyy and key leaders from the 'Coalition of the Willing' on 30 Dec, Zelenskyy confirmed that further meetings will take place in the days and weeks ahead in an effort to push forward with a peace plan. On Saturday, 3 January, national security advisers from the Coalition of the Willing will meet in Kyiv. This will be followed on Tuesday, 6 January, with a meeting of the leaders of the Coalition with Zelenskyy in France, which again will be followed by a national security advisers meeting on Wednesday, 7 January.
- Politico reports that, as well as the Coalition of the Willing's national security advisers, Ukraine will hold talks with US officials again on 3 Jan, but this has not been confirmed elsewhere.
- While no timeframe has been set, Zelenskyy raised the prospect of US President Donald Trump meeting with European leaders in January during his visit to Mar-a-Lago on 28 Dec.
- The last 24 hours have been dominated by Russian accusations that Ukraine targeted a residence of President Vladimir Putin with over 90 drones. Kyiv strongly denies this, calling it a tactic of Moscow to provide an excuse for more violent aerial attacks on Ukrainian cities.
- The other notable development has been the confirmation that Russia has moved its nuclear-capable Oreshnik hypersonic missiles into Belarus. In theory, the closer deployment would put European capitals in range of being struck more quickly by a Russian nuclear strike.
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MNI: EUROZONE NOV FINAL MANUF PMI 49.6 (49.7 FLASH 50.0 OCT)
- MNI: EUROZONE NOV FINAL MANUF PMI 49.6 (49.7 FLASH 50.0 OCT)
ITALY DATA: Nov Manuf PMI: Strongest Since Mar '23, But Employment Still Falling
The Italian November manufacturing PMI was stronger-than-expected at 50.6 (vs 50.1 cons, 49.9 prior), its highest since March 2023.
An improvement in international demand follows on from Friday’s Q3 GDP report, where net exports made a positive contribution to sequential growth. There were some continued signs of softness for the consumption outlook though, with the consumer goods sector contracting in November and overall employment falling.
Key notes from the release:
- “Supporting the positive reading was growth in output and new orders, as well as longer delivery times – traditionally a sign of busier supply chains.”
- “The consumer goods sector bucked the wider trend of growth, with both capital and investment segments seeing modest gains in November.”
- “Anecdotal evidence revealed that firms saw greater interest from both domestic and international clients. Indeed, new orders from abroad rose in November, marking the first increase in six months.”
- “With production growth below trend, firms continued to make cutbacks to their payroll numbers, through dismissals and opting not to replace voluntary leavers. The rate of job shedding was the strongest in four months.”
- “Reflective of inflated raw material prices, operating expenses facing goods producers rose at the sharpest rate seen in exactly three years. Although firms passed on some of the burden through to customers, the increase in selling prices was comparatively mild.”
- “Set on an improvement in market conditions, Italian manufacturers were confident that output would rise over the coming 12 months”
MNI: GERMANY NOV FINAL MANUF PMI 48.2 (48.4 FLASH, 49.6 OCT)
- MNI: GERMANY NOV FINAL MANUF PMI 48.2 (48.4 FLASH, 49.6 OCT)
