Report on Buffett Indicator (2nd Quarter, 2023)

Recently, the US nominal GDP data for the 2nd quarter 2023 is published, and this page shows the updated graph of the Buffett Indicator. The Indicator has increased in the consecutive two quarters since the beginning of 2023. The FRB now seems to slow raising the interest rates. Consequently, the Indicator may rise for the next several quarters.

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	192.7	121.3	1.588
	2nd	23,047	207.9	128.7	1.615
	3rd	23,550	219.3	134.0	1.637
	4th	24,349	228.2	142.5	1.602
2022	1st	24,740	219.6	146.7	1.497
	2nd	25,248	201.4	152.3	1.322
	3rd	25,724	196.5	157.6	1.247
	4th	26,138	190.8	162.3	1.175
2023	1st	26,529	199.2	166.8	1.194
	2nd	26,835	208.5	170.4	1.224

Nominal GDP : (Seasonality adjusted, annual rate) Billion $, Wilshire 5000 Total Market Full Capitalization Index : end of 1970 = 1

Remark: Because the Wilshire 5000 Total Market Full Cap Index is now discontinued, the data employed for this site is the Wilshire 5000 Total Market Index.