Impact of Macroeconomic Indicators on Asset Allocation

As a portfolio manager, understanding the macroeconomic environment is crucial in making informed investment decisions. In the context of the recent global economic recovery post-pandemic, discuss how changes in GDP growth, unemployment rates, and inflation can influence asset allocation decisions.

In your response, provide a brief overview of each macroeconomic component mentioned and explain their interrelationships. Highlight how these economic indicators could impact different asset classes and the overall investment strategy for a diversified portfolio.