The United States is not the worst, however, it is not the best on any of the indicators on this page. The mediocrity of the performance of the United States may indicate a sluggish economy. The low rate of savings may be indicative of the economic changes as manufacturing and other high-wage, skilled or semi-skilled labor jobs are moved overseas. It also may be an indicator of young people’s lack of interest in hands-on, skilled-labor jobs, such as plumbing and carpentry.

ECONOMIC PERFORMANCE 2

COLOR CODING
GreenRanked first for statistic
RedRanked last for statistic
 Gross savings as a % of GNIEconomy by RankSocial benefits as % of GDPFear of FailureTotal Early-Stage Entrepreneurial ActivityNecessity Driven
Australia22.45287.441.412.23.7
Canada20.20219.843.818.83.1
Denmark28.13816.2
France22.163019.739.13.93.0
Germany27.201115.436.35.35.4
Italy19.904819.849.44.32.5
Japan26.491912.541.24.73.4
Netherlands30.78610.929.79.910.0
Norway32.34714.8
Sweden29.44512.936.77.35.9
United Kingdom13.411613.035.98.44.5
United States17.751314.533.413.67.2

SOURCES:

Gross savings as a percent of GNI: World Bank

GNI is Gross National Income. All data from 2017 except for Japan and United States (2016).

Economy by rank: Legatum Prosperity Index

Economic Quality pillar measures countries on the openness of their economy, macroeconomic indicators, foundations for growth, economic opportunity, and financial sector efficiency. 2018.

Social benefits as a % of GDP

All data from 2017 except for Australia and Japan (2016).

Entrepreneurship (columns 4 – 6): Global Entrepreneurship Monitor

Global Entrepreneurship Monitor: Global Report 2017/18.

Fear of Failure

Extent to which the potential entrepreneur fears the risk to start a business is too great, %.

TEA

Total Early-Stage Entrepreneurial Activity: According to the Global Entrepreneurship Monitor report, this is the keystone indicator; total people between the age of 18 and 64 who plan on or already are running a new business. 2017.

Necessity Driven

Improvement-Driven Opportunity/Necessity Motive.
Percentage of TEA of the adult population aged 18 – 64 years who have started a business out of necessity because they have no other option.

Notes

“A Strong U.S. Economy Will Boost Global Growth in 2019” Peter Coy

November 13, 2018.
The global economy is to have a growth of 3.7 percent in 2018 which was the same growth for 2017 and the predicted growth for 2019. The U.S. has experienced much growth (e.g. in jobs) although their outperformance has caused capital from countries like Argentina and Turkey to slow along with their economic growth. Overall, the growth in the U.S. economy is expected to pull along growth on a global scale.