Even though the world's largest economy ugg outlet saw its overall competitiveness rise on the back of its status as a global innovation powerhouse, the Forum says the U.S.'s ranking has dropped two places to seventh this year. The Netherlands and Germany have moved ahead of the U.S. on the top 10 leaderboard.

The report found that some aspects of the U.S.'s political environment continue to raise concern among business leaders, "particularly the uggs outlet online low public trust in politicians and a perceived lack of government efficiency."

The Forum -- which also hosts an annual gathering of global business and political leaders in the Swiss ski resort of Davos every January -- ranks a country's competitiveness according to factors such as the state of its infrastructure and its ability to foster innovation.

The survey comes just a day before President Barack Obama addresses the Democratic National Convention in his bid to defeat Republican  candidate Mitt Romney in November's election.



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