Bloomberg Says Greek Economy Among “Most Miserable” in the World



 

The Greek economy remains among the five most difficult economies in the entire world, according to Bloomberg survey published on Thursday.

Despite official declarations that Greece has exited its ten-year crisis, Bloomberg finds that only Venezuela, Argentina, South Africa and Turkey are in a worse position than the Mediterranean nation.

Each of those countries retained the same rank as last year, showing intense economic stress and scant progress in taming inflation and getting people back to work, according to the Bloomberg index.

The “Bloomberg Misery Index” relies on the age-old concept that low inflation and unemployment generally illustrate how positive an economy’s residents should feel. This year’s scores are based on Bloomberg economist surveys, while prior years reflected actual data.

Thailand again claimed the title of “least miserable” economy, although its government’s unique way of recording unemployment makes its win less noteworthy than Switzerland’s improvement to second place, and Singapore’s managing to stay in the third position.

The US moved up six spots, snagging the spot for the thirteenth least miserable, and the UK improved four spots to the sixteenth least.