S&P expects lower 2013 growth for US state and local govts

Oct 9 (Reuters) - Standard & Poor's Ratings Services said on Tuesday it expected state and local governments in the United States to grow less in 2013 than previously forecast.

Cuts in public sector workforces as well as a focus by families on fixing their budgets instead of spending are key factors in the reduced growth expectations, S&P said in a report.

(Reporting by Hilary Russ; Editing by James Dalgleish)


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