The Government's being urged for more clarity on its economic plan, as talk of a recession bubbles to the surface.

It follows weakening markets in the US, Europe, Asia, and at home which are being pegged as warning signs of a global downturn.

Fears have been fuelled by weak economic data out of Germany and China as well as that ongoing trade dispute between the US and China.

Economist Cameron Bagrie told Heather du Plessis-Allan that the "bad news pile" is getting a lot bigger when it comes to the stability of the markets. 

"People are getting nervous, and when people get nervous, they take money off the table."  

He says that people are looking to government's to introduce sound fiscal policy to do a lot of the heavy lifting. 

Bagrie says that there are increasing calls for Finance Minister Grant Robertson and the Government to do more to stimulate the economy.

However, he says that avoiding it is not just about spending more or investing in more infrastructure - it's about providing clarity on what's ahead.

"We're underperforrming. In that environment, you look to the Reserve Bank to provide a little bit of a helping hand, they are, but ultimately I think we're going to need the Government to step up to the plate and provide a little bit more."

Industries like dairy are taking big hits, and Bagire says we don't have alternative industries to rely on. 

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