Updated Graph of Buffett Indicator (1st quarter, 2023)

We have updated the graph of the Buffett Indicator for the Wilshire 5000 Index and nominal GDP. The indicator, which is the ratio of the observed value of the index to the fitted value based on nominal GDP, reached its peak during the 3rd quarter of 2021. Since then the indicator had continuously declined till the 4th quarter of 2022. However, the indicator seems to rebound during the 1st quarter of 2023. The index has risen by 4.3% relative to the previous quarter, but nominal GDP is unlikely to rise at such a high rate.

Year	Quarter	Nominal GDP (red, left scale)	Wilshire5000 Index Quarterly mean (blue, right scale)	Wilshire5000 Index Fitted value (red, right scasle)	Wilshire5000 Index Q.mean÷F.value
2021	1st	22,314	194.3	121.1	1.605
	2nd	23,047	208.4	128.5	1.622
	3rd	23,550	219.5	133.7	1.642
	4th	24,349	227.4	142.2	1.599
2022	1st	24,740	216.2	146.4	1.477
	2nd	25,248	197.2	152.0	1.298
	3rd	25,724	192.3	157.3	1.222
	4th	26,145	186.5	162.1	1.151
2023	1st	N/A	194.6	N/A	N/A

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