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US rises to third in competitiveness table: WEF

A logo of the World Economic Forum on January 26, 2013 at the Swiss resort of DavosThe United States has risen two notches in the economic competitiveness stakes, the World Economic Forum said Wednesday. "The United States improves its competitiveness position for the second consecutive year, climbing two places to third on the back of gains to its institutional framework and innovation scores," said the WEF, which issues an annual ranking. The United States had held the top rank seven years ago but slid to seventh amid the financial crisis. The WEF, which organises the annual Davos meeting of the global political and business elite, said that Switzerland, where it is based, remained the world's most competitive economy.

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