Reuters: Regulatory News: White House lowers its growth forecasts for 2012, 2013

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White House lowers its growth forecasts for 2012, 2013 Jul 27th 2012, 18:03 By Laura MacInnis WASHINGTON, July 27 | Fri Jul 27, 2012 2:03pm EDT WASHINGTON, July 27 (Reuters) - The White House cut its outlook for U.S. growth in 2012 and 2013 on Friday, hours after data showed the economy grew at a tepid pace in the second quarter, raising concerns about a slowdown that could mar President Barack Obama's re-election chances. In its semi-annual budget review, the White House said it expected gross domestic product to rise 2.3 percent this year and 2.7 percent again next year - less than the 2.7 percent and 3.0 percent growth projections it made in February.

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