Editing 2003 (section)

== Economy ==
The global economy was weak in the first half of 2003 as uncertainty arose from Middle Eastern conflict, the spread of [[SARS]], and major corporate scandals in 2002.<ref name=":162" />{{Rp|page=9}} It improved in the second half of the year as it recovered from the [[early 2000s recession]], brought about by low [[interest rates]] and [[expansionary fiscal policy]]. The United States led the recovery, while China and Japan also made significant contributions. The economic situation improved in Latin America and Africa, while Western Europe saw slower recovery.<ref name=":9" /> The [[Eurozone]] had a GDP low growth of 0.5%.<ref name=":162" />{{Rp|page=12}} Argentina emerged from [[1998–2002 Argentine great depression|its economic crisis]] after four years, reaching the year's highest GDP in the Western Hemisphere with 7% growth.<ref name=":162" />{{Rp|page=11}}

The [[gross world product]] increased by 2.5% in 2003, and [[international trade]] increased by 4.75%. The prices of non-fuel commodities, such as metal, minerals, and agricultural materials, increased during the year.<ref name=":9">{{Cite report |url=https://www.un.org/development/desa/dpad/publication/world-economic-situation-and-prospects-2004/ |title=World Economic Situation and Prospects 2004 |date=2004-01-08 |publisher=United Nations Department of Economic and Social Affairs |page=1 |isbn=978-92-1-109146-5 |access-date=October 26, 2023 |archive-date=November 28, 2021 |archive-url=https://web.archive.org/web/20211128023925/https://www.un.org/development/desa/dpad/publication/world-economic-situation-and-prospects-2004/ |url-status=live }}</ref> The price of gold rose following conflict in the Middle East.<ref name=":162" />{{Rp|page=1}} The Italian food company [[Parmalat]] and the Dutch supermarket company [[Ahold]] were the subjects of major corporate scandals in 2003.<ref name=":162" />{{Rp|page=12}} These were among a series of corporate corruption scandals over the previous years that led the United States and a coalition of European countries to reform their policies on the matter.<ref name=":162" />{{Rp|page=15}}