U.S. World's Most Competitive Economy

Thanks to a rebounding stock market and innovation coming from American companies, the U.S. has regained the top spot as the most competitive economy in the world, according to an annual ranking by Swiss business school IMD. The report released Wednesday ranks 60 economies around the world and found that the United States has made strong enough strides in its economic recovery to reclaim the top spot. "While the euro zone remains stalled, the robust comeback of the U.S. to the top of the competitiveness rankings and better news from Japan have revived the austerity debate," said Stephane Garelli, director of the IMD World Competitiveness Center. "Structural reforms are unavoidable, but growth remains a prerequisite for competitiveness."