The global economy went through a severe recession in 2009, with major countries experiencing significant declines in output. The recession was predicted by a leading economic index that tracks economic conditions in advance. The downturn was felt across the globe, from North America to Europe and Asia. The slowdown began in early 2008 and worsened throughout the year, despite efforts to stimulate the economy. The recession was forecasted to be a full-fledged global one, with countries like the US, EU, and Japan being hit particularly hard.