Roy Spencer and John Christy of the University of Alabama at Huntsville have reported in their Global Temperature Report that February 2010 was the 2nd warmest February in 32 years (e.g. see Roy’s summary).
Their spatial map of the anomalies, however, shows that most of the relative warmth was in a focused geographic area; see
The global average is based on the summation of large areas of positive and negative temperature anomalies.
As I have reported before on my weblog; e.g. see
What is the Importance to Climate of Heterogeneous Spatial Trends in Tropospheric Temperatures?,
it is the regional tropospheric temperature anomalies that determine the locations of development and movement of weather systems [which are the actual determinants of such climate events as drought, floods, ect] not a global average temperature anomaly.