We mentioned in our Sunday editorial the possibility that the nation's worst economic slump in more than 70 years appears to have ended.

The third-quarter indicators show a 3.5-percent increase, which stands in startling - and welcome - contrast to the previous four quarters, in which the U.S. and global economies sank like a stone in the ocean.

A day after that cheery news, Ford Motor Co. announced a third-quarter profit just shy of $1 billion, which for holders of Ford stock means a plus-29 cents a share.

This is almost astonishing news, for several reasons.

First, industry analysts had predicted midway through the third quarter that, because Ford's quarterly revenues were $800 million behind the third quarter of 2008, the company would suffer a quarterly loss, translating to stockholders taking a per-share hit of 12 cents.

All of which demonstrates, perfectly, how experts often don't know squat. Apparently, they were oblivious to the fact that Ford had cut its expenses by more than $1 billion, and that the leaner Ford Motor Co. would segue to a new business model, one that offers products consumers actually are willing to buy, at a time when auto sales were flatter than the proverbial pancake.

The second factor in Ford's minor-miracle resurgence involves government intervention. Ford executives admitted the cash-for-clunkers program provided a nice boost to sales in the third quarter. That program has ended, but car makers are hoping it will have a slingshot effect, providing momentum for an industry in dire need of forward motion.

Perhaps the most important message carrying forward in Ford's quarterly profit report is that an American car company is, indeed, making money, and in the face of withering competition from overseas.

The news from General Motors and Chrysler isn't as good. It has been reported that neither company is expected to be able to repay the U.S. Treasury the billions borrowed to keep those companies in operation over the past year.

But those car makers should be encouraged by Ford's success. There is, now at least, a template for future gains.

As we said in that Sunday editorial, things are looking up.