U.S. regains crown as the world's most competitive economy. First time since 2008

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U.S. regains crown as most competitive economy for first time since 2008:World Economic Forum
by Katanga Johnson
Oct 16, 2018 / 7:01 PM / UPDATED 11 HOURS AGO

WASHINGTON (Reuters) - The U.S. economy sits atop of the World Economic Forum’s annual global competitiveness survey for the first time since the 2007-2009 financial crisis.

In its closely-watched annual Global Competitiveness Report, the WEF said the U.S. is the country closest to the “frontier of competitiveness,” an indicator that ranks competitive productivity using a scale from zero to 100.

The U.S. beat off Singapore, Germany, Switzerland and Japan, the other top four 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.

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