"One of the reasons why I like what I see from General Electric is that in almost every business, the margins were improving," Cramer said. He pointed to areas like water infrastructure and aerospace as key areas that are showing margin momentum for GE, while another industrial giant—Honeywell—also reported that margins were up across its business.
(Read more: GE profit, revenue drop on finance unit weakness)
"This was a good quarter for GE after multiple quarters where there was always some sort of nit-picking. I'm having a hard time nit-picking today," he said.
In addition, GE CEO Jeff Immelt was "much more positive" on the company's conference call, Cramer said. "It's almost as if these companies are doing everything right and tech seems to be doing everything wrong."
With strength in the U.S. and improving industrial sales, Cramer said that the company is likely to raise its dividend, "returning more capital increasingly" to shareholders.
(More: Cramer: How could you NOT own Boeing?)
Taking into account Honeywell, Whirlpool and GE, Cramer said that you begin to get a picture of how the industrial world is shaping up: revenues are not outstanding, but they are increasing. Those who are betting against rising revenues in the industrial space have been "so wrong it's frightening," Cramer said.
"You get the margins up, GE joins the crowd of companies that go higher here," he said. "GE has not held its weight in the Dow. It is so hard to get down on the economy when you have GE saying the right things."