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America—An Economic Innovator In 2013?

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US Economic Outlook for 2013 | 2013 Economic Forecast

America has a proud history of economic ingenuity. Since 1970, 51 Americans have been awarded the Nobel Prize in Economic Sciences (the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel.1

The U.S. also has the largest and most technologically powerful national economy in the world, with a per capita Gross Domestic Product (NYSEMKT:GDP) of $48,442.2

There is no doubt that the U.S. is both a political and economic force, but will it remain so?

When it comes to globally competitive economies, the U.S. is slipping. The U.S., which placed fifth in 2011, fell two positions to the seventh spot-marking its fourth year of decline.3

The U.S. was downgraded due to economic instability, political deadlock, the business community's mistrust of the government, concerns over its fiscal health, a deterioration in the development of its financial markets and technological readiness.

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