Greece 4th in Bloomberg’s Misery Index! (table)

Venezuela in 1st spot

Greece is in the worst place among European nations included in Bloomberg’s annual Misery Index, while it ranked 4th overall in the 2017 projected index. According to the index, which factors in unemployment data and inflation, Venezuela, South Africa and Argentina are worse off than Greece, while Turkey and Spain came in immediately after Greece in the rankings. With 500 points, Venezuela was by far the worst of all, with second spot South Africa scoring 32.2, while Greece amassed 23.2 points. Thailand was the best on the list, as it scored the least points of all countries. The Misery Index (MI) was devised by Arthur Okun and is an indicator of present economic conditions in a country. It is a measure of citizen’s prosperity and is calculated by aggregating the unemployment and the inflation rate.