BERLIN, Nov. 27 (Xinhua) -- Business confidence in Germany rose unexpectedly in November, indicating that Europe's largest economy is only gradually cooling due to record oil prices and the stronger euro, the Ifo research institute in Munich said on Tuesday. The Ifo Business Climate Index for industry and trade in Germany, based on a survey of 7,000 executives, increased to 104.2in November from 103.9 in October, after having fallen for five months in succession. Due to surging oil prices and euro's gains, economists had expected the index to drop slightly in November. The Ifo institute said that the companies have assessed their current situation more positively than in October but are somewhat more cautious regarding the six-month business outlook. The Ifo survey is regarded as one of Germany's key indicators of business sentiment.