All the day’s economic financial news, including a new healthcheck on Britain’s builders * Latest: UK construction PMI falls to 52.2 <- details start here * Loss of momentum driven by housebuilding sector * Lacklustre report suggests economy slowing * Builders worried about finding workers after Brexit Earlier: * Rand biffed after S&P downgrades South Africa * ‘Angst in the markets’ 11.54am BST THE GREEK DEBT CRISIS IS HEATING UP, AS PUBLIC ANGER OVER ITS AUSTERITY PROGRAMME BUBBLES UP AGAIN. Thousands of people have taken part in a march in Athens today, protesting against pension cuts under various Greek bailout packages since the crisis began. Monitors representing the EU and IMF were meant to have returned to Athens to continue their progress report yesterday. But with the Greek government regarding the review as an all-inconclusive package that will define Greece’s post-bailout future, talks have stumbled once again over horse trading on the fiscal measures Athens will have to enforce to ensure a primary surplus of 3.5 % once the programme ends in 2018. Prime minister Alexis Tsipras will meet with the European Council president Donald Tusk in Athens tomorrow and is expected to hold telephone talks with the German chancellor Angela Merkel later today. He has already said he’ll only accept a deal that also tackles the issue of Greece’s staggering debt pile. 11.27am BST RETAIL SALES ACROSS THE EUROZONE HAVE RISEN, IN ANOTHER SIGN THAT THE EUROPEAN ECONOMY IS STRENGTHENING. Stats firm Eurostat reports that retail spending rose by 0.7% during February, and was a chunky 1.8% higher than a year ago. Euro area retail trade +0.7% in Feb over Jan, +1.8% over Feb 16 #Eurostat https://t.co/ZmZNmYJXOb pic.twitter.com/7oNq81vgU4 Hard data slowly/partially catching up. Euro area retail sales up 0.7% MoM in February, following an upwardly revised +0.1% in January. Continue reading...
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