Large Scale Manufacturing contracts by 5.93 percent during FY20
MG News | January 17, 2020 at 08:20 PM GMT+05:00
January 17, 2020 (MLN): The overall output of Large Scale Manufacturing Industries (LSMI) decreased by 5.93% during the first 5 months of FY20 compared to the corresponding period from last year.
According to data published by the Pakistan Bureau of Statistics (PBS) the LSMI output decreased by 4.61% for November, 2019 compared to November, 2018 and 3.78% if compared to October 2019.
The production in Jul-Nov 2019-20 as compared to Jul-Nov 2018-19 has increased in NonMetallic Mineral Products and Fertilizers while it has significant decreased in Food, Beverages & Tobacco, Coke & Petroleum Products, Pharmaceuticals, Automobiles, Iron & Steel Products and Electronics.
According to the PBS, more than 50% decline is attributed to the automobile sector i.e. -3.11% out of -5.93%.
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