The slowdown in the economy has bottomed out, and going forward, the pace of recovery will depend on initiatives the government takes to boost growth momentum, especially private investment, says a report."There has been improvement on some parameters in the recent period, and we hope that the rebound in industrial production, especially in capital goods, is not just driven by festive-led demand and is on a sustainable basis," Dun & Bradstreet India Lead Economist Arun Singh said.