Question-and-Answer Session
Operator
(Operator Instructions) our first question comes from Ali Dibadj from Sanford Bernstein.
Ali Dibadj - Sanford Bernstein
I want to see if you could give a little bit more granularity on the emerging markets. It looks like, still a lot of pricing driving the growth there. You mentioned, Tom volume coming back a little bit it looks like, but they are still lower than, I guess anticipated at 4% for personal care and slightly down it sounds like in consumer tissue, so a little more granularity maybe breaking it up even by region might be helpful please.
Tom Falk
Yes. If you look at the markets we have been driving like China, Russia, Turkey you saw a consistent solid volume growth going on there. And the tissue front generally you saw more pushing for revenue realization. We got a little bit of volume growth this quarter, but overall continue to drive revenue growth. Some of the bigger markets like Australia and Korea are still relatively slower growing and so didn’t see a huge volume up tick in either of those locations.
Ali Dibadj - Sanford Bernstein
So you are saying it’s trying to look a little bit better?
Mark Buthman
Well, I’d say sequentially. If you look year over year from the kind of rates we were seeing in emerging markets a little over a year ago. But sequentially it seems like things were picking up. We had a terrific quarter in China for example.
Ali Dibadj - Sanford Bernstein
Okay. And it looks like both in the emerging markets, also I have seen in developed world a lot of the growth driven by pricing. I mean I guess I am a little surprised by that, I saw the competitive environment might step up a little bit given all the rhetoric for south and certainly given what’s happened to commodities, it doesn’t seem like you are seeing that, are you anticipating more of that or am I just reading it wrong?
Mark Buthman
Well, I would say in emerging markets often pricing and currency are sort of mirror images of each other. So the dollar was relatively strong, you saw a lot more price particularly as many of the underlying commodities that go into these products are sold are priced in dollars. So the dollar has weakened over the last couple of months and certainly heading into the fourth quarter, I would expect to see that pricing improvement weigh in certainly.
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