AMG National Trust Bank sees AI investment supporting resilient US growth
SPY•AMG National Trust Bank sees consumer spending and AI investment supporting US growth of 2.4% in 2026. It says business fixed investment could grow nearly 8%, while higher energy costs and persistent inflation pose risks.
1. Growth and investment
US economic growth could reach 2.4% in 2026, supported by consumer spending and artificial intelligence investment. Business fixed investment could grow nearly 8%, and plans by major developers and suppliers suggest similar gains in 2027.
2. Risks to the outlook
AI-related capital spending is reducing free cash flow and increasing borrowing needs, while data center-related durable goods orders have flattened. An outright decline in investment could weaken profits and stock prices, reducing household wealth and consumer spending. War-driven energy costs threaten consumer demand, and persistent inflation could trigger further Federal Reserve rate increases.
