economy

US again most competitive economy: WEF

MNA Business Desk: The US economy sits atop of the World Economic Forum’s annual global competitiveness survey for the first time since the 2007-2009 financial crisis, benefiting from a new ranking methodology this year, reported news agency.

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 zero to 100.

The US 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” labour market and financial system.

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