Goldman Sachs Releases 2027 Economic Outlook Citing AI Investment as Key Driver

On November 13, 2026, Goldman Sachs released its 2027 economic outlook, laying out its growth forecasts for the global economy and several major economies. The report projects global GDP growth of 2.8% in 2027, with the US economy expanding 2.4% and the UK economy growing 1.4%.

The report argues that AI will remain the primary driver of growth in business investment in 2027. It predicts that related spending will exceed $900 billion by the end of 2026, and that annualized spending on AI-related hardware and intellectual property will climb to $1.4 trillion by the end of 2027, equivalent to nearly 4% of the US economy. The report estimates that AI-related investment will directly lift capital expenditure growth in 2027, including raising semiconductor investment growth by 5.3 percentage points and US GDP growth by 0.6 percentage points.

On risks and overall judgment, the report notes that although AI investment continues to support the US economy, rising energy prices, persistently high financing costs, and tighter monetary policy remain the main risks facing global growth, with high inflation and high interest rates acting as downside risks. It adds that the key to global growth in 2027 is whether AI investment and productivity gains can offset the drag from high rates and energy costs. Goldman Sachs had previously expected 2027 global growth to be roughly flat compared with 2026, with risks tilted to the downside. That view was put forward at a time when markets were worried that higher borrowing costs and stricter investor scrutiny could dampen AI-related capital spending, especially as companies rely more heavily on debt financing to fund expansion. The event currently stands at the stage where Goldman Sachs has published the report and set out these forecasts and risk assessments.