The eurozone’s “booming” economy powered ahead in November with jobs growth and new manufacturing orders reaching 17-year highs as a stronger currency did little to dampen robust foreign demand for the region’s exports. According to the eurozone purchasing managers’ index, compiled by IHS Markit, the region’s businesses enjoyed their best monthly performance in six and half years. All main indicators of output, demand, employment and inflation were at multiyear highs, pointing to an economy now firing on all cylinders. The data, released on Thursday, reinforced the view that the strength of the eurozone economy would continue into new year. The PMI surveys are viewed as reliable indicators of economic growth and the latest data point to a further pick-up in GDP growth after a strong third quarter. UniCredit said the latest figures suggested growth at an annualised 3 per cent in the fourth quarter. Chris Williamson, IHS Markit chief business economist, said: “The message from the latest eurozone PMI is clear: business is booming.” Euroboom gathers pace Frederik Ducrozet, senior economist at Pictet Wealth Management, said: “We are running out of superlatives to describe the state of the euro area economy.” He said that while business surveys had tended to overstate the true pace of growth in recent quarters, the new data still suggested the economy could perform even better than expectations. Businesses in services and manufacturing reported better activity than expected over the month. A particularly good performance in Germany pushed the manufacturing sub-index to its second-highest level on record. Goods exports rose at their fastest rate since the surveys began even though the euro has appreciated by more than 12 per cent against the dollar so far this year. UniCredit economist Edoardo Campanella suggested “solid foreign demand is offsetting any FX-related drag” amid a wider global upturn. Other data released on Thursday added to the bright picture. France’s official measure of business confidence hit its highest level in nearly 10 years. Insee, the French statistics agency, said conditions in the eurozone’s second-largest economy had finally recovered to pre-crisis level in several sectors. Meanwhile, a breakdown of German growth figures, attributed its rapid 0.8 per cent expansion in the third quarter to strong exports and accelerating investment. The finding from the PMI surveys that faster eurozone growth is leading to rising inflationary pressures will please the European Central Bank. Struggling to meet its inflation target of close to 2 per cent, it has extended its ultra loose monetary policy until at least September next year. Businesses reported the largest increase in input prices since May 2011 and were increasingly passing on the higher costs to consumers, with selling prices also growing at the fastest pace in more than six years. The bloc’s robust economic performance is likely to strengthen the view of the ECB’s more hawkish policymakers that it should give more clarity on the end-date for its bond-buying. Minutes of the ECB’s October meeting — when it agreed to extend asset purchases at but at half the monthly rate — showed the first clear split on the governing council, with a minority od rate-setters opposed to open-ended bond-buying.