Historical Year Data · 2007
Australia Credit-to-GDP Gap in 2007
Australia Credit-to-GDP Gap opened 2007 at 15.7 and closed at 17.9, a +14.01% move for the year. The high of 18 was reached on September 30, and the low of 15.7 on March 31.
Open
15.7
2007-01
Close
17.9
4 data points
High
18
Sep 30
Low
15.7
Mar 31
Full Year Change
+14.01%
2006 Change
+22.63%
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Mar | 15.7 | 15.7 | 15.7 | 15.7 | +0.00% |
| Jun | 16.4 | 16.4 | 16.4 | 16.4 | +0.00% |
| Sep | 18 | 18 | 18 | 18 | +0.00% |
| Dec | 17.9 | 17.9 | 17.9 | 17.9 | +0.00% |
Events During 2007
2008 Financial Crisis
Deflation
September 2007 – March 2009
The 2008 Financial Crisis remains the deepest and most instructive market event of the 21st century. Subprime losses cascaded through leveraged balance sheets, froze interbank lending, and forced unprecedented central bank intervention.
2006 US Housing Market Peak
Goldilocks
June 2006 – February 2007
US home prices peaked in summer 2006 after a 106% rally from 2000. Subprime mortgage underwriting collapsed in late 2006, setting up the 2008 crisis. The peak is the canonical example of a market top visible only in retrospect.
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