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The Macro Picture Behind Every Market: Inflation, GDP and Price Levels

Inflation history, cumulative price-level drift, GDP and market size — the handful of macro series worth knowing, charted across decades for the US, Germany and Italy.

Company analysis happens inside a macro context whether or not anyone looks at it. Inflation quietly resets what a “good” return means; GDP growth sets the tide most businesses float on; and the cumulative price level — not the yearly rate — is what actually erodes purchasing power over a holding period measured in decades.

A few long series carry most of the signal. Below, inflation, price levels, GDP, exports and market size for three economies across sixty years — the same views Slowio’s macro dashboard builds for over a hundred countries.

Feature spotlight · Macroeconomics

The macro picture behind every market

Every company and every bond trades inside an economy. The Macro page on Slowio charts 39 macroeconomic indicators for 125 economies — growth, inflation, unemployment, debt, trade, demographics — with annual history reaching back to 1960. 65 years of inflation, in one chart:

Line chart: annual consumer-price inflation for United States, Germany and Italy, 1960-2025
Consumer-price inflation for United States, Germany and Italy, 1960–2025 — the Time Series tab, for any indicator and any set of countries.

Those yearly percentages compound. Chained across the 65 common years on file, prices multiplied ×11 in United States (peak 13.5% in 1980), ×6 in Germany (peak 7.0% in 1973), ×32 in Italy (peak 21.1% in 1980). Flipped around: of 100 units of 1960 purchasing power, what remains today is Germany 18, United States 9.3, Italy 3.1:

Line chart: purchasing power of 100 units of 1960 money for United States, Germany and Italy, chained from annual inflation
Each line chains that country’s annual CPI prints from the chart above (earlier-currency eras chained through the euro changeover); 100 = 1960 purchasing power. An educational illustration of compounding, not a forecast.

Inflation is one indicator of 39. The same tab draws the rest — three more, from the growth, trade and markets groups:

Line chart: annual GDP growth for US, Germany, Italy and China, 1986-2025
GDP growth over the last 40 years — China’s arc from 14.3% (1992) to 5.0% today; the dips of 2009 (US -2.6%) and 2020 (US -2.1%) cut across every line.
Line chart: exports of goods and services as a share of GDP for US, Germany, Italy and China since 1960
Exports as a share of GDP — Germany sells abroad 40.4% of its economy against 11.0% for the US; China’s share peaked at 35.5% in 2006 and reads 21.1% today.
Line chart: stock market capitalization as percent of GDP for US, Germany and Japan since 1975
Listed companies’ total value against the economy hosting them (the “Buffett indicator”): the US stands at 224% of GDP; Japan’s bubble era peaked at 134% (1989) — passed again only in recent years (172% today). (Italy’s series stops in 2014 and sits this one out.)

The same page condenses each economy into summary cards — the latest readings for United States, Germany and Italy on this snapshot:

+2.2%
US GDP growth 2025
2.9%
US inflation 2024
4.3%
US unemployment 2025
2.2%
Germany inflation 2025
1.5%
Italy inflation 2025
125
Economies covered

Beyond the time series: country-vs-country comparison, a world map for any indicator, multi-indicator overlays, economic structure, trade and debt & fiscal dashboards, trend statistics, and correlations — including a cross-module view linking macro data to bond yields.

Open the macro dashboard →

Run the same analysis on any of the 9,000+ companies Slowio follows — free, no card required.

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