By Maria Martinez 
 

German economic expectations increased in January, driven by the start of Covid-19 vaccinations, the ZEW economic research institute said Tuesday.

The measure of economic expectations rose to 61.8 in January from 55.0 in December, the institute said. The outcome beats economists' forecast of 59.0 points, taken from a survey by The Wall Street Journal.

The assessment of the current economic situation in Germany has also improved to minus 66.4 in January from minus 66.5 in December, the ZEW institute said. The reading compares with economists' forecast of minus 66.5 points.

"Despite the uncertainty about the further course of the lockdown, the economic outlook for the German economy has improved slightly," Achim Wambach, president of the ZEW institute, said.

Write to Maria Martinez at maria.martinez@wsj.com

(END) Dow Jones Newswires

January 19, 2021 05:23 ET (10:23 GMT)