Mr. John McCarthy:

One of the principal reasons is an anticipated moderation in export growth. We do not see a continuation of some of the sector-specific issues that can be seen this year. If one looks at the figures, the rate of exports goes from 8.3% to 4.8%. Exports are the single largest component of GDP. They are in excess of 100% of GDP. Small changes on the exports figure can have a big impact on the overall figure. If I could use this opportunity to revert to Deputy O'Donnell's question earlier, if one looks at the figures on domestic demand contributions, stocks and net exports and so forth, one can see the answer to Senator Hayden's question. There is a smaller contribution from net exports. Deputy O'Donnell referred to the contributions this year. It is 3.6% from domestic demand plus 1.25% from net exports and a minor adjustment on stocks. The main reason for the slow-down for next year is the 0.5% smaller contribution from net exports and that is primarily due to the fall off in actual exports.