(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).
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