How to explain layoffs in interviews

I was recently laid off and my position was terminated. New grad with about 1.5 YEO and I was given a promotion 6 months ago so came as a surprise to me. 

I was told that it was because there was a lack of work so they did not need more staff, I still have the lingering doubt that maybe I was not good enough but I guess that's just part of the process.

My ex employer has a company policy that they don't do referrals so it makes it even harder to explain that during interviews. What are some tips or things I can say in the interview ? I am worried that potential employer will look at my situation in a negative light. Thanks for the help

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