BofA upgrades global growth forecast as AI boom accelerates: Chart of the Day
Key takeaways
- Spurred by a mix of tailwinds, Bof A strategists now see the global economy growing by 3.2% in 2026 and by 3.5% in 2027, with AI in the driver's seat.
- Through 2025 and into 2026, AI has increasingly dominated US final domestic demand growth, taking over from the traditional leader — consumer spending — per data published by the bank.
- The picture for the US consumer isn't all bad, BofA noted: "Before the deal, we were impressed with the resilience of the consumer to the gas shock.
Bof A upgrades global growth forecast as AI boom accelerates: Chart of the Day Jake Conley · Breaking Business News Reporter Mon, June 29, 2026 at 11:12 PM GMT+7 3 min read ^GSPC CL=F The AI investment boom is set to push global growth further than initially modeled, Bank of America said in a midyear report published late last week.
Spurred by a mix of tailwinds, Bof A strategists now see the global economy growing by 3.2% in 2026 and by 3.5% in 2027, with AI in the driver's seat. The economists had previously estimated growth at 3.1% and 3.4% in 2026 and 2027, respectively.
"More than the peace deal, the main drivers of the upward revision to global growth this year are the AI-driven export cycle in Asia and the AI investment boom in the US, while lower oil prices boost growth mildly in developed markets in 2027," global economists Claudio Irigoyen and Antonio Gabriel wrote to clients on Monday.