The survey of purchasing managers in the eurozone found growth at its best level for nearly six years

Business activity in the eurozone rose at the fastest pace in nearly six years in February, accelerating across all the big economies in the single currency bloc and leading to the fastest rate of job creation in nearly a decade.

The closely-watched purchasing managers’ index showed growth in the eurozone reaching its best level since the sovereign debt crisis in April 2011. The balance jumped to a reading of 56 last month from 54.4 in January. Any figure above 50 indicates growth.

It comes as inflation starts to pick up in the eurozone after years of deflation, with the annual rate rising to 2 per cent last month, the highest rate since January 2013. The eurozone’s unemployment rate is at the lowest level since May