BREAKING NEWS

The eurozone halved its trade deficit with the rest of the world in January, thanks largely to a surge in exports of German cars and machinery.

It is a sign that international demand is the best chance for the 17 euro countries to climb out of their economic slump.

Exports leapt 11 per cent in January from the same month last year, slashing the deficit from 16-billion euros to 7.6-billion.