Tesla Inc. (NASDAQ:TSLA) and Space Exploration Technologies Corp. (NASDAQ:SPCX) CEO Elon Musk expects U.S. real GDP growth next year to surge more than 50% above this year’s pace, after the economy expanded at a 2.2% annual rate in the second quarter.
Bets on Growth Above 3.3%
“My guess for real GDP growth next year is >50% higher than 2026, so >3.3%,” he said in a post on X Wednesday.
Musk’s forecast would mark an acceleration beyond the pace the economy has shown in the past three quarters.
Earlier this month, Musk endorsed Ark Invest CEO Cathie Wood, who said that the AI-driven technology revolution could push real GDP growth to 7% or more over the next five years, compared with roughly 3% since the Industrial Revolution, driven by productivity gains from AI, robotics, and other emerging technologies.
Q2 GDP revised
The Bureau of Economic Analysis’s second-quarter growth rate of 2.2% was revised up from an initial estimate of 1.5%, following a 2.5% pace in the first quarter of 2026.
That marks a steadier stretch compared with 2025, when growth was as low as 0.1% in the first quarter before climbing to 4.0% in the second.
How Have Markets Performed This Year?
The S&P 500, which is up 11.56% so far this year and 14.01% over the past year, closed 0.25% lower on Wednesday. Meanwhile, the tech-heavy Nasdaq-100 closed 0.23% higher.
The Nasdaq-100 is up 20.64% and 22.61% over 2026 and the past year, respectively.
The State Street SPDR S&P 500 ETF Trust (NYSE:SPY) has gained 11.63% year-to-date and 14.09% year-over-year. The Invesco QQQ Trust (NASDAQ:QQQ) has climbed 20.66% year-to-date and has returned 22.63% over the past year.
Price Action: On Wednesday, the Invesco QQQ Trust closed 0.25% higher at $739.77 and gained 0.66% in extended trading.
The QQQ Trust has a Momentum score in the 81st percentile according to Benzinga Edge rankings, with a positive price trend across the short, medium, and long term.
See More: Top Momentum Stocks
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: IAB Studio on Shutterstock.com
Login to comment