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Goldman's top equity strategist recommends buying consistent earnings growers for the tough times ahead

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David Kostin advised investors to choose stocks with consistent earnings growth ahead of what he projects will be a economic downturn in the U.S.

Stocks with steady earnings growth are the play to manage an upcoming economic downturn, according to David Kostin, Goldman Sachs' chief U.S. equity strategist. He said on Tuesday on CNBC's " Squawk on the Street " that companies will continue to experience margin degradation as they struggle with pricing power and inflation.

" What's perhaps not priced in our view, would be the stable growth companies." The equity strategist named household products company Colgate-Palmolive and biotechnology name Amgen as examples of stocks with low variability of earnings growth in an environment that's laden with recession risk. Colgate-Palmolive and Amgen are among the names Goldman recently highlighted in its table growth basket. Constituents in the health-care sector include Encompass Health and McKesson .

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I would recommend the renewable energy sector, because without it, there won't be anything at all.

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