Rolling coverage of the latest events across the world economy, the financial markets, the eurozone, Greece’s bailout, and business 8.41am GMT Spain’s factory sector has posted its fifteenth month of growth.The monthly Spanish manufacturing PMI, measured by Markit, came in at 54.2; slightly down on January’s 54.7, but still showing a rise in activity. 8.36am GMT Britain’s housing market appears to be cooling. Prices fell by 0.1% in February, dragging down the annual rate of price inflation to 5.7%, from 6.8% in January.This slowdown means that the average price of a UK home has fallen back to £187,964, from the recent peak of £189,306 it reached in August.Nationwide house prices fell 0.1% February, annual rate from 6.8% to 5.7%. Notes home-ownership drop to 30-year low: http://t.co/UhtNL3O4ZN 8.29am GMT Jeroen Dojsselbloem, who led the talks with Greece over its bailout plan last month, has dangled a carrot towards Athens -- crack on with reforms, and we may release some funds this months.“My message to the Greeks is: try to start the programme even before the whole renegotiation is finished.” “There are elements that you can start doing today. If you do that, then somewhere in March, maybe there can be a first disbursement. But that would require progress and not just intentions.” 8.15am GMT Greece’s prime minister has caused a diplomatic spat over the weekend by claiming that Spain and Portugal had led “an axis of powers” against the new Athens government.Alexis Tsipras told an audience that Madrid and Lisbon were afraid of their own radical parties [eg: Spain’s Podemos], declaring:Their plan was, and is, to wear down, topple or bring our government to unconditional surrender before our work begins to bear fruit and before the Greek example affects other countries… And mainly before the elections in Spain.”“We are not responsible for the frustration generated by the radical Greek left that promised the Greeks something it couldn’t deliver on,” he said. 8.10am GMT Ireland’s recovery from its bailout woes continues; its manufacturing sector posted its biggest jump in monthly activity since December 1999.Ireland manufacturing PMI 57.5 vs 55.1 - highest this century, says Markit. http://t.co/FdsDvPCVi7 8.04am GMT Activity across China’s factory sector nudged to a seven-month high last month, data released earlier today shows.But it’s not all good news; today’s PMI survey also shows that export orders fell for the first time in 10 months. Firms also continued to cut staff, suggesting China is suffering from weaker demand from overseas. 7.50am GMT Good morning, and welcome to our rolling coverage of the world economy, the financial market, the eurozone and business.There’s a sense that Europe is returning to normality this week (at least for a moment), after the recent drama over Greece’s bailout extension.UK economy today: Nationwide house prices 7am, #BOE credit stats, Feb. manufacturing PMI 09:30. @business PMI forecast 53.3 vs 53Now Greek govt officials hint at new elections if Syriza leftwing opposition blocks a deal with the Institutions. Oh well...A new general election to get the same mandate you got some weeks ago. And end up with the same intra-party opposition. Only in Greece. Continue reading...
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