Attention Trade Warriors: Germany's Surplus Is on the Wane

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A rising share of pensioners in the German population, who normally have less money to save than people in jobs, will crimp household savings rates, while an increasing number of immigrants such as refugees will contribute to boosting German imports, Peters wrote in a study first published last year.

-- [However,] Seven percent of GDP is still a mighty big number for an economy as large as Germany's.