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The Economy

Switzerland now most competitive

September 09, 2009|Times Wire Reports

The United States has lost its place as the world's most competitive economy, a survey showed, falling behind Switzerland mainly because of the U.S. financial crisis and accumulated fiscal deficits.

The survey, which combines opinions of more than 13,000 business executives with economic statistics and government regulations, put Switzerland in first place and dropped the U.S. to second.

From 2006 to 2008, the U.S. was No. 1 in the survey conducted by the Geneva-based World Economic Forum. Before that Finland held the top spot.

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