Germany slips out of global competitiveness top 10, study says

Protesters demonstrate against Transatlantic Trade and Investment Partnership free trade agreement in Hannover, Germany. The country slipped out of being in the 10 top list of most globally competitive countries this year.
Protesters demonstrate against Transatlantic Trade and Investment Partnership free trade agreement in Hannover, Germany. The country slipped out of being in the 10 top list of most globally competitive countries this year.PHOTO: REUTERS

BERLIN (REUTERS) - Germany has slipped out of the top 10 most competitive economies in the world, falling two places to 12 from last year, a study by Swiss business school IMD showed on Monday.

The study, based on a worldwide survey of 5,400 managers assessing 342 criteria, showed that a diminished assessment of Germany's government and the economy's performance were the main reasons for the drop, IMD director Arturo Bris said. "The biggest danger for Germany is self-satisfaction," Bris said.

"If it rejects that, it will get back into the top ten."

Hong Kong came top in the survey this year, followed by Switzerland and the United States.