Big industry output drops by 3.68% YoY in 1HFY23

News Image

MG News | February 15, 2023 at 07:39 PM GMT+05:00

0:00

February 15, 2023 (MLN): The Large Scale Manufacturing Industries (LSMI) output has declined by 3.68% YoY during the first half of the fiscal year 2022-23 compared to the same period in the previous year, according to data released by the Pakistan Bureau of Statistics (PBS) on Wednesday.

The factors that have contributed to the overall negative growth rate of -3.68% are mainly attributed to several industries. The food and tobacco industries have contributed -0.36 and -0.60 respectively, while the textile industry has shown the highest negative impact of -2.75.

On the other hand, there have been some positive growth rates such as 4.06 in the garments industry, but industries like petroleum products, cement, pharmaceuticals, and automobiles have also shown negative impacts, with growth rates of -0.80, -1.04, -1.21, and -1.36 respectively.

The provisional Quantum Index numbers (QIM) of the LSM also showed a 3.51% YoY drop for the month of December 2022, as compared to the same period in the previous year. However, the output increased by 12.38% MoM when compared with November 2022.

The LSMI Quantum Index Number (QIM) was estimated at 125.31 for the period of July-December 2022-23, while it was estimated at 113.60 for December 2022.

The negative growth in LSMI output has been attributed to a range of factors including weak macros, monetary tightening, supply chain disruptions, and an increase in energy costs. Additionally, political instability in the country has also contributed to the shrinking output.

Overall, the decline in LSMI output represents a significant challenge for Pakistan's economy and highlights the need for continued investment and support for the country's industrial sector.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 138,597.36
256.32M
-0.05%
-68.14
ALLSHR 85,286.16
608.38M
-0.48%
-413.35
KSE30 42,340.81
77.13M
-0.03%
-12.33
KMI30 193,554.51
76.19M
-0.83%
-1627.52
KMIALLSHR 55,946.05
305.11M
-0.79%
-443.10
BKTi 38,197.97
16.53M
-0.59%
-225.01
OGTi 27,457.35
6.73M
-0.94%
-260.91
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 117,670.00 121,165.00
117,035.00
-1620.00
-1.36%
BRENT CRUDE 69.23 70.77
69.14
-0.29
-0.42%
RICHARDS BAY COAL MONTHLY 96.50 0.00
0.00
2.20
2.33%
ROTTERDAM COAL MONTHLY 104.50 104.50
104.50
-0.30
-0.29%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.03 67.54
65.93
-0.20
-0.30%
SUGAR #11 WORLD 16.79 17.02
16.71
0.05
0.30%

Chart of the Day


Latest News
July 19, 2025 at 04:28 PM GMT+05:00

4.7m families get BISP aid in Punjab


July 19, 2025 at 03:00 PM GMT+05:00

Key Pakistan Market Stats and Economic Indicators


July 19, 2025 at 02:49 PM GMT+05:00

RDA attracts $182m in June


July 19, 2025 at 02:49 PM GMT+05:00

M2 falls by Rs455bn in a week



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg