Economic Events Calendar: December 2–8

Ukraine

Monday, December 2

• State Statistics: Production of construction products (publication of the express release).
• NBU: Publication of the monthly survey of Ukrainian enterprises regarding business activity.

Thursday, December 5

• NBU: Publication of the “Macroeconomic and Monetary Review”.
• NBU: Banking statistics for October, including banks' balance sheets.

Friday, December 6

• Anticipated revision of Ukraine's sovereign rating by Fitch Ratings.
• NBU: Indicators of Ukraine's foreign exchange market.
• NBU: International reserves in November. The October figure was $36.58 billion in gross and $22.44 billion in net reserves.

World

Monday, December 2

• Cyber Monday. The holiday originated in the USA. It takes place on the Monday following “Black Friday”, which kicks off the sales season between Thanksgiving and Christmas. An important day for the retail sector.
• USA: PMI – manufacturing sector business activity index for November from ISM. Forecast: 47.7 points, previous value: 46.5. The last time the index was above 50 (indicating industry expansion) was in March, which did not prevent the U.S. stock market from rising 15% since April.
• Eurozone: Speech by ECB President Christine Lagarde. Last week, in an interview with the Financial Times, she spoke about the need to avoid trade wars with the USA following Donald Trump's election as president. The latter promised to impose customs import restrictions.

Tuesday, December 3

• USA: Number of job openings (JOLTS Job Openings). Forecast: 7.98 million, previous value: 7.44 million, which was the lowest since January 2021.

Wednesday, December 4

• USA: Speech by Fed Chair Jerome Powell.
• USA: Services PMI – business activity index in the services sector. Forecast: 55.4, current value: 56.7. Unlike manufacturing, the services sector has been confidently above 50 for four consecutive months, with the index reaching its highest level in over two years in October.

Thursday, December 5

• USA: Initial Jobless Claims. Forecast: 215 thousand. This indicator is significant in the context of its influence on the Fed's interest rate policy. A strong labor market could prompt the regulator to halt rate cuts, just like the Friday statistics.
• Eurozone: Retail Sales.

Friday, December 6

• USA: Unemployment rate for November. The rate is expected to remain at last month's level of 4.1%.
• USA: Nonfarm Payrolls – change in the number of employed persons (excluding the agricultural sector) for the month. One of the most important labor market indicators in the USA. Forecast: +202 thousand jobs.
• Eurozone: GDP for Q3. Forecast: +0.9% year-on-year and +0.4% quarter-on-quarter.

Saturday, December 7

• China: Trade balance for the month. Important ahead of potential escalation of trade wars. Trump announced the introduction of 60% import tariffs on Chinese goods.