U.S. Competitiveness Slips, Switzerland Is Tops in WEF Study
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The U.S. slipped to fourth in the annual rankings of the world’s most-competitive economies amid a record budget deficit, while Switzerland retained the top spot, the World Economic Forum said.
The U.S. fell from second, a year after losing the No. 1 position for the first time since the Geneva-based organization began its current index in 2004. A budget shortfall of more than $1 trillion and public distrust of politicians were among the weaknesses in the world’s largest economy.