Private consumption, as a whole, shows some weakness. Meanwhile, net exports (exports minus imports) are basically on an upward trend, and public investment has started to increase considerably. Reflecting this development of final demand and some progress in inventory adjustments, especially in those of durable goods, the decline in production has been slowing.
With an appreciation in the rupee exchange rate of about 9.4 per cent against the US dollar from January up to November, the Bank intervened again in early December to purchase Euros 40.5 million from the market.