US Economy Now The World’s Most Competitive Again
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- America is First, Again!
- The last time the US topped the list was in Y 2008.
US economy sits atop of the World Economic Forum’s annual global competitiveness survey for the 1st time since the Ys 2007-2009 financial crisis the Swiss body said.
In its closely-watched annual Global Competitiveness Report, the WEF said the US is the country closest to the “frontier of competitiveness,” an indicator that ranks competitive productivity using a scale from zZero to 100.
The US beat off Singapore, Germany, Switzerland and Japan, the other Top 4 markets, with a score of 85.6 out of 100, the report said, due to its “vibrant” entrepreneurial culture and “strong” labor market and financial system.
The World Economic Forum, the same organization that runs the Davos meeting of global powerbrokers each January, bases its rankings of 140 economies on a dozen drivers of competitiveness, including a country’s institutions and the policies that help drive productivity.
This year the WEF changed its methodology to better account for future readiness for competition, such as a country’s idea generation, entrepreneurial culture, and the number of businesses that disrupt existing markets.
The last time the US topped the list was in Y 2008.
The WEF said it was too early to factor in how The Trump Administration’s recent trade policies would affect its ranking
“While it is too early for the data to filter through in this year’s report, we would expect trade tensions with China and other trading partners to have a negative impact on the US’ competitiveness in the future, were they to continue,” the managing director at the World Economic Forum, said in an e-Mail Wednesday.
“Open economies are more competitive.”
Wednesday, the major US stock market indexes finished at: DJIA-91.74 at 25706.68, NAS Comp-2.79 at 7642.89, S&P 500-0.71at 2809.05
Volume: Trade on the NYSE came in at 794-M/shares exchanged
- NAS Comp +10.7% YTD
- S&P 500 +5.1% YTD
- DJIA +4.0% YTD
- Russell 2000 +3.5% YTD
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America is First!