ADMINISTRATION CUTS ECONOMIC GROWTH FIGURES ANALYSTS PRAISE BLUNT REALISM OF PREDICTION.(BUSINESS)

Byline: DAVE SKIDMORE - Associated Press

The Clinton administration slashed its forecast of economic growth for this year Wednesday but predicted low interest rates and tame inflation will sustain the economy next year and beyond.

In its mid-session review of the budget, the administration said the gross domestic product -- the sum of all goods and services produced in the United States -- will grow at an inflation-adjusted 2 percent rate this year, improving to a 3 percent rate in 1994.

In February, when President Clinton introduced his budget and economic package, the administration looked for 3.1 percent growth this year and 3.3 percent next …