Sweden tops new global economic ranking

Sweden ranked number one among the world's 40 more largest economies in a new measure of economic growth and development complied by accountancy firm PwC (PricewaterhouseCoopers), local media reported Friday. Despite the global financial crisis, Sweden achieved a score of 70.5 in 2012, trailed by Switzerland (70.3) and Singapore (60.9) in the PwC ESCAPE-index, according to a statement released by PwC in Sweden. ESCAPE referred to the main dimensions of the measure, which were economic growth and stability, social progress and cohesion, communications technology, political, legal and regulatory institutions and Environmental sustainability. Sweden also topped the ranking when PwC published the ESCAPE-index in 2007. Meanwhile, the Nordic countries Finland and Denmark ranked respectively 5th and 6th while traditional economies such as the United States and Britain had fallen back ranking 18th and 19th on the list, according to a news agency.