Economies are slowing down all over the world- with many poised to enter technical recessions.

Australia's economy has stalled and unemployment rates are set to rise, leading experts to believe the region will follow New Zealand into a technical recession.

HSBC Chief Economist Paul Bloxham says there are lots of ways to think about whether an economy has tipped into a recession. 

"Is it really a recession if there's a lot of job creation still going on? There are lots of ways to think about whether an economy's tipped into recession or not- we don't have a precise definition."

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