Recession of 2009

Signs of an impending recession in the United States and elsewhere were already apparent by the middle of 2008, and the subsequent development of the financial crash of 2008 has led investors to fear that it would be worse than previously expected. The resulting loss of confidence by investors and consumers is forecast to contribute further to the severity of an expected global economic downturn that is here tentatively referred to as the Recession of 2008[1]. <ref>World Economic Outlook International Monetary Fund October 2008