(1888PressRelease)
November 16, 2007 - The US is once again the world's most competitive economy, according to recently released research.
Rankings from the World Economic Forum (WEF) place the US top of its global competitive index - up from sixth last year.
Analysts from Geneva-based WEF said the US was boosted by the efficacy of its use of employees and investment, coupled with a high level of co-operation between higher education faculties and business on research and development, leading to a culture of technological innovation.
However, levels of debt among the American general public may dampen growth in future months, according to Xavier Sala-i-Martin, who co-wrote the survey.
He said: "This danger has most recently been demonstrated by the fallout and contagion caused by the country's subprime mortgage crisis and the ensuing global credit crunch."
In second place in the rankings was Switzerland, followed by Sweden, Germany and Finland.
Britain moved up to ninth place, while improvement was also noted for China and India, which were placed 34th and 54th respectively.
The study polled more than 11,000 business leaders worldwide.
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