‘Brand USA' Sees $1 Trillion Wiped Off Value By Rating Cut [Headlines]
The loss of the country's triple-A credit rating caused a decrease of more than $1 trillion off the value of 'Brand USA.'
Brand Finance, the corporate advisory group, says the value of the US brand has fallen 10pc since April to $11.4 trillion.
This still means the US brand is the most valuable in the world, reflecting its position as the world's biggest economy, but it has been severely damaged by inflation, higher unemployment and a declining image in the rest of the world.
The analysis, which is based on a “detailed analysis of economic data, perceptual market research data and infrastructure measures” follows comments last week from Sir Martin Sorrell, boss of the world's biggest advertising agency WPP, that the US did not realise the damage done by the Standard & Poor's downgrade.