Archive Economic prospects improving. Industry continued to be propelled by the favourable external conditions and a competitive exchange rate but also increasingly by a pick-up in domestic demand. The Consensus Forecast expects industry to have grown strongly in 2000. This year, industrial output growth should moderate somewhat due to the higher comparison base in 2000. Investment recovery underway.
Investment also appears to be on the gradual pace to recovery.
On the downside, imports of transport equipment were half their 1999 levels. Nevertheless, this month s Consensus Forecast indicates that gross fixed investment last year is likely to have grown over 1999 and is expected to expand further this year. Consumption on stable path. Consumption is also likely to have continued recovering. Moreover, this year consumption is expected to continue to grow at low levels, as tighter fiscal policy will restrain growth.