Jobs, GDP numbers suggest U.S. economy is on the mend

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The U.S. economy appears to be strengthening, with GDP growing 1.7% from April to June and private-sector hiring surging by 200,000 in July, according to the Department of Commerce. Both reports topped analysts' expectations, although economists and industry leaders cautioned against too much optimism. "The point is there is a lot of room to grow, just to get back to where we've been before," said Mike DeWalt, Caterpillar Inc.'s head of investor relations.

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