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MONTREAL — Canada’s prosperity ranking has slipped in 2017 to the lowest level in 11 years, according an annual index that measures several factors including wealth and well-being.

Canada now ranks No. 8 in Legatum Institute Prosperity Index, three spots below last year and the lowest level since 2007.

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That’s in part due to Canadians viewing banking services as being increasingly unaffordable and people feeling less convinced that working hard will get them ahead.

Norway leads the survey while the United States fell one spot to 18th. Yemen was last in 149th spot.

Overall, the index showed that prosperity has been growing around the world and sits at the highest level since the index was first published in 2007. Still, the gap between the most and least prosperous has widened over the last five years with the 30 least prosperous countries suffering a decade-long decline.

Western Europe has marginally overtaken North America for the first time as the continent’s score fell more than any region of the world.