Euro-area industrial output expanded at its strongest pace in almost three years in November as a decline in the single currency and improved business conditions helped counter geopolitical uncertainties. A Purchasing Managers’ Index for manufacturing rose to 53.7 from 53.5 in October, IHS Markit said on Thursday, in line with a previous flash estimate. That’s the strongest reading since January 2014, with expansions in the Netherlands, Austria, Spain and Germany leading the way. “The November survey provided firm evidence that the weaker euro is providing a meaningful stimulus to manufacturing, leading to greater import substitution and higher exports,” said Chris Williamson, chief business economist at IHS Markit. “The benefits of a weaker currency and strengthening demand helped firms brush off political worries.” Indications that growth is picking should reassure the European Central Bank on the effectiveness of its policies as it faces a complex decision on Dec. 8 on whether to extend its 1.7 trillion-euro ($1.8 trillion) quantitative-easing program. IHS Markit noted sharp increases in both input and output price pressures, though ECB President Mario Draghi has repeatedly said the recovery remains reliant on continued monetary support. “While the ECB looks poised to extend its quantitative-easing program at its December meeting, the upturn in growth and inflationary pressures will further fuel talk of whether we could see the ECB start tapering its asset purchases next year,” Williamson said. Headline inflation rose to 0.6 percent in November, data published by Eurostat on Wednesday showed. Core inflation, which excludes volatile items such as food and energy, has failed to pick up for five consecutive months. Stronger rates of manufacturing growth were also signaled in Italy, where the government will hold a constitutional referendum on Dec. 4. A continued rise in orders underpinned the upturn in production, IHS Markit said.