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The United States has slipped down global ranking of the world’s most competitive economies to the 7th spot – marking its fourth year of decline.

Welcome to VoteFacts.  From a CNBC report we thought was worth looking into,

"The United States has slipped down global ranking of the world's most competitive economies to the 7th spot - marking its fourth year of decline."

According to the article, this data came from the World Economic Forum (WEF). As our regular readers know,  we prefer to stick to resources like the Congressional Budget Office.  However, given the nature of the data we thought it best to provide it from the horse's mouth.  So here are the cold hard facts and  data to verify it for yourself. Here is a chart from the WEF's website which shows us the current ranking of 7th, and that it was a decline from the previous year:

But the CNBC statement says there were 4 years of decline.  Is this true?  Let's dig a little deeper:

According page 15 of the report by the World Economic Forum, the U.S. moved from number 2 in 2009, to number 4 in 2010, to number 5 in 2011, and number 7 in 2012.  That means our global competitiveness has in fact dropped for 4 straight years.  (WEF, Page 15)

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Resources:

WEF

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VoteFacts original post date:  September 11, 2012
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