KANSAS CITY, Mo. -- Pending home sales were up 6% in September, and that's the highest increase in three years. Experts say a tax credit helped.
It's a sign that the U.S. economy is getting back into gear.
Ford shocked Wall Street on Monday by posting a billion dollar profit. The automaker's CEO says the comeback was fueled by more than just the Cash for Clunkers program.
"Clearly it was a stimulus for that little of that month, but we have been increasing our share in this down market," said Alan Mulally, Ford's CEO.
U.S. manufacturing rose last month to the highest level in 3-1/2 years, as the overall economy grew a solid 3.5 percent.
But there are still economic aftershocks.
Commercial lender CIT Group filed for bankruptcy, the fifth biggest such filing in U.S. history.
Unemployment is at 9.8 %, and could hit 10% this week when the latest jobless numbers are released.
At a meeting of the president's economic advisory board, jobs topped the agenda. The president says he's confident the numbers will turn around.
"Having brought the economy back from the brink, the question is how are we going to make sure that people are getting back to work and able to support their families," said Obama.
But, he admits, that will take time.
Still, the president notes the economy has come a long way since January, when 700,000 people lost their jobs in a single month.
