Australian households are saving much less than their global peers as mortgage repayments and tax bracket creep eat into disposable incomes, new research shows.
But a sharper-than-expected deterioration in the jobs market could force shoppers to cut back on spending even further and save more.
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Michael Read is the Financial Review's economics correspondent, reporting from the federal press gallery at Parliament House. He was previously an economist at the Reserve Bank of Australia and at UBS. Connect with Michael on Twitter. Email Michael at michael.read@afr.com
