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White House's Summers: Slow demand to limit growth
ST. LOUIS |
ST. LOUIS (Reuters) - Weak demand will weigh on U.S. economic growth for some time as heavy debt loads and high unemployment constrain household spending, White House economic adviser Lawrence Summers said on Monday.
"We need to recognize that lack of demand will be a major constraint on output and employment in the American economy for the foreseeable future," Summers said in a speech to an economics group here.
(Reporting by Emily Kaiser; editing by Jeffrey Benkoe)
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