Economy Propped Up By Three 'A-Pillars,' Says EY's Daco
Why it matters
EY's Chief Economist Greg Daco identifies three key factors supporting the US economy: affluent consumers, AI-driven investment, and asset price gains, but notes a decline in consumer sentiment due to high cost of living and job insecurity concerns.
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Expected market reaction
Market impact analysis based on bearish sentiment with 79% confidence.
Evidence trail
Evidence
AI provenance
Technical identifiers
- Provider tag
- groq-llama-3.1-8b-instant
- Analysis version
- groq-llama-3.1-8b-instant
- Article id
- 13842
Original source
EY's Chief Economist Greg Daco believes that the US economy is currently being propped up by three narrow, interconnected ‘A-pillars’: affluent consumers, artificial intelligence-fueled investment and asset price gains. New equity wealth has boosted consumer spending, which accounts for about two-thirds of demand in the economy – but also skewed it toward the rich. This comes as US consumer sentiment fell in November to one of the lowest levels on record as Americans’ views of their personal finances soure, with consumers becoming increasingly anxious about the high cost of living and job security. Daco joined Carol Massar and Tim Stenovec on 'Bloomberg Businessweek Daily' to discuss the weight of the three 'A-Pillars' and dwindling consumer sentiment. (Source: Bloomberg)
Read the full article on Bloomberg
Original article published by Bloomberg on November 22, 2025. Analysis and insights provided by AnalystMarkets AI.