Updated Graph of Buffett Indicator (2nd quarter, 2025)

This page presents the updated graph of the Buffett Indicator for the US stock markets. Trump tariffs have disturbed the global economy, and the Wilshire 5000 has declined by 5.6% since the previous quarter. But it seems to be recovering. Perhaps the global economy is adapting to Trump’s tariff policies.

Year	Quarter	Nominal GDP (red, left scale)	Wilshire 5000 Price Index Quarterly mean (blue, right scale)	Wilshire 5000 Price Index Fitted value (red, right scale)	Wilshire 5000 Price Index Quarterly mean / Fitted value
2021	1st	22,657	40,525	27,144	1.49
	2nd	23,369	43,581	28,341	1.54
	3rd	23,922	45,826	29,282	1.57
	4th	24,777	47,519	30,752	1.55
2022	1st	25,215	45,565	31,514	1.45
	2nd	25,806	41,627	32,549	1.29
	3rd	26,272	40,448	33,372	1.21
	4th	26,734	39,099	34,194	1.14
2023	1st	27,164	40640	34,964	1.16
	2nd	27,454	42,370	35,485	1.19
	3rd	27,968	44,978	36,415	1.24
	4th	28,297	44,870	37,015	1.21
2024	1st	28,624	50,233	37,614	1.34
	2nd	29,017	51,877	38,335	1.35
	3rd	29,375	54,340	38,997	1.39
	4th	29,724	58,277	39,645	1.47
2025	1st	29,962	58,061	40,089	1.45
	2nd	N/A	54,814	N/A	N/A