LONDON – The United States has fallen in the global economic competitive stakes for the fourth year running, according to an annual survey from the World Economic Forum.
Though the world’s largest economy has become more competitive partly through its continued status as a global innovation powerhouse, the Forum says Wednesday the U.S.’s ranking has dropped two places to seventh. The survey finds there is low public trust in politicians, just two months before the presidential election.
Switzerland tops the overall rankings in the The Global Competitiveness Report 2012-13 for the fourth consecutive year, followed by Singapore.
The Forum ranks a country’s competitiveness according to factors such the state of its infrastructure and its ability to foster innovation.
Other northern European countries, such as Germany and the United Kingdom, also feature on the leaderboard, those in southern Europe continue to suffer from a host of economic problems.