US growth hindered by debt, weak job gains: economist

Sep 11, 2013 | 12:56 PM | Corinna Petry

Tags  Metals Service Center Institute, Dan North, Euler Hermes, unemployment, fiscal policy, Treasury borrowing, debt ceiling, credit insurance risk Corinna Petry

SCHAUMBURG, Ill. — U.S. economic growth, as measured by gross domestic product, is stuck in a "2-percent rut" due to persistently slow job creation, according to Dan North, chief economist for North America at credit insurer Euler Hermes, adding that this holds down consumer confidence, consumer spending, small business optimism and capital spending.

"We are not gaining jobs fast enough. We still have 2 million fewer jobs than before the recession," he told attendees Sept. 9 at the Metals Service Center Institute’s Economic Summit in Schaumburg, Ill.....

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