(ANSA-AFP) - FRANKFURT, NOV 24 - German business confidence improved in November, a key survey said Thursday, as hopes grow that a looming recession in Europe's top economy will be less severe than feared. The Ifo institute's monthly confidence barometer, based on a survey of about 9,000 companies, reached 86.3 points, rising for a second month after a revised 84.5 points in October. Prior to October, the reading had fallen for four months straight. "Sentiment in the German economy has improved," Ifo president Clemens Fuest said in a statement.

"Pessimism regarding the coming months reduced sharply. The recession could prove less severe than many had expected." Germany is facing soaring inflation -- consumer price rises hit 10.4 percent in October -- driven by high energy costs after Russia slashed gas supplies following its invasion of Ukraine.

(ANSA-AFP).