Greece, Portugal, Ireland Fared Worse in 2011: World Economy Report Card

The world entered 2011 with cautious optimism that things would improve over the gloom of 2009 and 2010. However, the past year has proven to be quite turbulent. The global economy was faced with a myriad challenges, including the European debt crisis, while the overall economic performance in the industrialized world left much to be desired.

An already lackluster performance for the Organization for Economic Cooperation Development economies took another step back this year, according to Bank of Montreal's economic performance indicator (EPI).

Here's How 12 of the World's Most Important Economies Performed in 2011 (From Worst to Best):

12. Greece

Inflation: 3.2%

Jobless Rate: 16.6%

Budget Deficit (% of GDP): 5.9%

Current Account Deficit (% of GDP): 8.6%

Overall Grade: 11.6

11. Portugal

Inflation: 3.6%

Jobless Rate: 12.5%

Budget Deficit (% of GDP): 5.9%

Current Account Deficit (% of GDP): 8.0%

Overall Grade: 43.0

10. Ireland

Inflation: 1.2%

Jobless Rate: 14.1%

Budget Deficit (% of GDP): 10.3%

Current Account Deficit (% of GDP): surplus

Overall Grade: 55.8

9. Spain

Inflation: 3.1%

Jobless Rate: 21.5%

Budget Deficit (% of GDP): 6.2%

Current Account Deficit (% of GDP): 4.0%

Overall Grade: 56.2

8. Italy

Inflation: 2.9%

Jobless Rate: 8.3%

Budget Deficit (% of GDP): 3.6%

Current Account Deficit (% of GDP): 3.6%

Overall Grade: 69.6

BMO's 2012 GDP Growth Projection: -1.2%

7. U.S.

Inflation: 3.2%

Jobless Rate: 9.0%

Budget Deficit (% of GDP): 10.0%

Current Account Deficit (% of GDP): 3.1%

Overall Grade: 71.7

BMO's 2012 GDP Growth Projection: 2.2%

6. Japan

Inflation: -0.8%

Jobless Rate: 4.6%

Budget Deficit (% of GDP): 8.9%

Current Account Deficit (% of GDP): surplus

Overall Grade: 76.7

BMO's 2012 GDP Growth Projection: 1.6%

5. U.K.

Inflation: 4.5%

Jobless Rate: 8.0%

Budget Deficit (% of GDP): 9.4%

Current Account Deficit (% of GDP): 0.6%

Overall Grade: 77.5

BMO's 2012 GDP Growth Projection: 0.1%

4. France

Inflation: 2.2%

Jobless Rate: 9.8%

Budget Deficit (% of GDP): 5.7%

Current Account Deficit (% of GDP): 2.3%

Overall Grade: 80.0

BMO's 2012 GDP Growth Projection: -0.5%

3. Canada

Inflation: 2.9%

Jobless Rate: 7.5%

Budget Deficit (% of GDP): 5.0%

Current Account Deficit (% of GDP): 3.0%

Overall Grade: 81.6

BMO's 2012 GDP Growth Projection: 2.0%

2. China

Inflation: 5.4%

Jobless Rate: 4.1%

Budget Deficit (% of GDP): 2.2%

Current Account Deficit (% of GDP): surplus

Overall Grade: 80.3

BMO's 2012 GDP Growth Projection: 8.0%

1. Germany

Inflation: 2.5%

Jobless Rate: 7.1%

Budget Deficit (% of GDP): 1.2%

Current Account Deficit (% of GDP): surplus

Overall Grade: 89.2

BMO's 2012 GDP Growth Projection: 0.1%