U.S. economy No. 1 again

The United States has regained its status as the world's most competitive economy thanks to strong innovation and excellent universities, according to a survey released Wednesday by the World Economic Forum.

The United States rebounded from sixth place last year to knock Switzerland from the top spot in the ''global competitiveness index.'' The Swiss were second this year, followed by Denmark, Sweden, Germany and Finland.

The study by the Geneva-based Forum said the United States was boosted by its close cooperation between universities and business on research and development, high intellectual property protection, as well as efficient use of employees and investment.