All the day’s economic and financial news, including reaction to last night’s Greek agreement, new UK public finances, and Bank of England governor Mark Carney at parliament * Latest: France’s private sector growth hits 69-month high * The agenda: UK public finance at 9.30am 8.41am GMT MORE ENCOURAGING NEWS! GERMANY’S PRIVATE SECTOR IS ENJOYING ITS BEST MONTH IN ALMOST THREE YEARS. German manufacturing growth rose to a 37-month high this month, says Markit, while service sector growth hit a 3-month high. “The flash PMI results for February signalled the strongest growth of the German economy for just under three years, with manufacturing in particular expanding at a marked pace and services recovering the momentum lost at the start of the year. Moreover, the new Future Output Index is signalling strong confidence among firms, reaching a new high since its inception in mid-2012. 8.30am GMT Economist are applauding the news that French companies have reported such solid growth this month. CAPITAL ECONOMICS are predicting that the wider economy is picking up pace: After jumping to a 69-month high in February, the French Composite PMI seems consistent with a sharp rise in French quarterly GDP growth pic.twitter.com/CEb0mIXtRL Sky is the limit for French #PMI. "Magnifique" February survey, with both headline & details looking good. My take: https://t.co/paxG4VEKXs pic.twitter.com/sCPHfoQ27W PMI shows #French #manufacturing & #services output at 69-month high in Feb suggests economy is currently brushing off political uncertainty 8.21am GMT BREAKING: FRANCE’S COMPANIES ARE GROWING AT THEIR FASTEST RATE IN OVER FIVE YEARS, DESPITE THE UNCERTAINTY CREATED BY THIS SPRING’S PRESIDENTIAL ELECTIONS. “The latest PMI data highlighted a further marked improvement in private sector conditions in France. Output continued to rise in both monitored sectors. “Service providers remained the driver of overall growth, as evidenced by further sharp expansions in new orders and employment, the sharpest in five- and-a-half years in each case. 7.51am GMT GOOD MORNING, AND WELCOME TO OUR ROLLING COVERAGE OF THE WORLD ECONOMY, THE FINANCIAL MARKETS, THE EUROZONE AND BUSINESS. Today we’ll be watching Greece, following yesterday’s agreement to allow debt inspectors to return to Athens. ECB IMF ESM & EC to visit #Greece after deal on new reforms for aid. We can't call them "troika"..any other ideas? https://t.co/UCa6Lmtj0A pic.twitter.com/zTuOY7DCwn “The government is celebrating the return of the institutions to Greece while the economy is sinking.” Related: Greece standoff over €86bn bailout eases after Brussels deal Related: HSBC cuts pay of senior executives after failing to combat potential financial crime Continue reading...
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