Historical Year Data · 2003

US Credit-to-GDP Gap in 2003

US Credit-to-GDP Gap opened 2003 at 7.3 and closed at 7.8, a +6.85% move for the year. The high of 8.8 was reached on June 30, and the low of 7.3 on March 31.

Open

7.3

2003-01

7.8

4 data points

High

8.8

Jun 30

Low

7.3

Mar 31

Full Year Change

+6.85%

2002 Change

+18.46%

Monthly Breakdown

Month	Open	Close	High	Low	Change
Mar	7.3	7.3	7.3	7.3	+0.00%
Jun	8.8	8.8	8.8	8.8	+0.00%
Sep	8.5	8.5	8.5	8.5	+0.00%
Dec	7.8	7.8	7.8	7.8	+0.00%

Events During 2003

1990 Japanese Bubble Collapse

Deflation

January 1990 – 2003

The Nikkei 225 peaked at 38,957 on December 29, 1989, then fell 82% over 13 years. Japan entered its "lost decades" of deflation, zero rates, and structural stagnation that still shapes global markets today.

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