Emerson Process Management net sales grew 6%, supported by stable and sustained levels of investment in the global energy and chemical industries. Underlying sales increased 2% in the third quarter, reflecting mixed market conditions across regions and continued cautious project execution by customers. Acquisitions added 4%. North America grew 7%, as unconventional oil and gas projects remained robust, and Europe increased 5%, led by strong growth in developing countries. Asia decreased 2%, as softness and difficult comparisons in Australia offset continued strength in China. Segment margin remained solid at 20.4%, declining from the prior year as strategic investments continued to support future profitable growth. Solid near-term growth is expected, supported by strengthening in North America, anticipated recovery in Asia, and record backlog.