The European Union official said its ‘goodbyes’ to the UK last Friday, with Ursula von der Leyen saying it was a ‘very emotional day’ but that ‘strength does not lie in splendid isolation.’ However, for all intents and purposes, little changes until 31st December, and then focus will now turn to trade talks, which are not expected to begin until March. The deadline is then tight to get at least a bare-bones deal over the line.
This morning, manufacturing PMI data for France, Italy and Germany showed a slight increase month-on-month. Cautious hopes have been voiced by observers that the threat of a global slowdown has somewhat bottomed out, but it will take much longer to know whether this is accurate.
The rest of this week will see further economic releases, including services and composite PMI and, on Friday, some important economic indicators for Germany.
