Islamabad- A UN report says there have been some positive changes in Pakistan's economy in recent months and the growth is projected to pick up during current financial year. The analysis is contained in the Economic and Social Survey of Asia and Pacific 2014, an annual flagship publication of the UN Economic and Social Commission for Asia and Pacific. It particularly notes improved growth of large-scale manufacturing industries, expansion in private sector credit, accumulation of foreign exchange reserves and local currency appreciation. The survey says industrial production picked up on capacity enhancement and investment in alternate energy, especially by large-scale manufacturing operations. It says inflation decreased to 7.4 percent last year and the currency has appreciated in recent months, which should help contain inflation in the current fiscal year. It recommended that reducing the fiscal shortfall should not be at the cost of development and social expenditures, but rather through revenue-raising measures, reforms of state-owned enterprises and rationalizing current spending.