Both of Johnson Controls' lines of business will benefit from an increasing willingness to invest in productivity-enhancing products and services.

Consumers reacted to what happened in the last few years by going out and spending more money than they made, while corporations hoarded their cash and focused on improving their internal finances and returns to shareholders.

The current economic expansion of the last three to four years has been hugely geared to consumer spending, while corporations have been sitting on their wallets. We think that trend is going to start reversing in 2006.

It also supports our plan for making continued quality and productivity improvements, which is the key to being competitive and winning new business.

There haven't been significant structural reforms that suggest the productivity will improve in the next three or four years.

Going forward, it is expected that productivity improvements and restraint in upward administered price adjustments will contribute to lower and stable inflation, and a competitive real exchange rate.