Business

As US economy accelerates, Fed remains cautious

By Martin Crutsinger
Published July 31, 2014 11:26am ET
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As US economy accelerates, Fed remains cautious
In this July 17, 2014 photo, construction workers build a commercial complex in Springfield, Ill. The government issues its first of three estimates of how fast the U.S. economy grew in the April-June quarter on Wednesday, July 30, 2014. (AP Photo/Seth Perlman) | Seth Perlman

WASHINGTON (AP) — After a grim start to 2014, the U.S. economy has rebounded with vigor and should show renewed strength into next year.

That was the general view of analysts Wednesday after the government estimated that the economy grew at a fast 4 percent annual rate in the April-June quarter. Consumers, businesses and governments combined to fuel the expansion. The government also said growth was more robust last year than previously estimated.

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