Oct. 15--PPG Industries said third-quarter net income jumped by 36 percent, to $159 million, or 96 cents per share, beating Wall Street analysts' estimates and leading Chairman Charles Bunch to say the chemicals, paints and glass maker is benefiting from a gradual economic recovery.

Analysts polled by Thomson Reuters expected PPG to earn 89 cents per share.

Sales for the quarter fell by 24 percent from the third quarter of 2008, to $3.2 billion, including a 5 percent decline resulting from PPG's sale of its majority interest in its automotive glass and services business. The company retains a minority stake in the firm now called Pittsburgh Glass Works.

In addition to improved demand from the economy, Mr. Bunch said PPG benefited from aggressive cost-cutting actions earlier in the year that included job reductions and plant closings.

For the fourth quarter, he expects only "modest improvement in the overall economy" and normal seasonal slowdowns.

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