Is at record highs (at least back to 1947, using latest available data).
Figure 1: Ratio of GDI to GDP (blue), and ratio of GDI to GDP in Q2 assuming real GDI constant in Q2 (light blue square). NBER defined peak-to-trough recession dates shaded gray. Red arrow denotes data to be revised in annual revision, Sept 29, 2022. Source: BEA, NBER and author’s calculations.