瑞银集团：美国2026-2028展望：萧条还是繁荣？（英文版）

new day dawns: looking ahead over the next three yearsThe economic expansion looks very narrowly driven. The fundamentals are mixed atbest. A decent chunk of the USeconomy is in recession. Essentially the Us outlook rightnow looks like a big bet on Al. Al-driven equity market wealth supports the consumptionof upper-income households, while other households are under increasing pressure.Meanwhile, the only other part of the economy obviously growing is investment insoftware, computers, and pe