We invest less than 20% of GDP; to sustain strong growth, we should have investment of at least 25% of GDP. We have focused on domestic  the Federal Reserve’s targeted measure of inflation. 7 The exact averages are 1.7% for Germany, 0.9% for Italy, and 2.9% for Spain, for the period 2015-2019. The data are drawn from the IMF World Economic Outlook database.
6 This number refers to the change in the Private Consumption Expenditure deflator,  consumption as a growth driver, on the grounds that it is the largest part of the economy. This effort has raised household consumption to its highest ever share of GDP.8  But we are growing more slowly than ever.