April 13, 2021 (MLN): The overall output of LSMI increased by 7.45% for July-February 2020-21 compared to July – February 2019-20.
According to data released by the Pakistan Bureau of Statistics, the LSMI output increased by 4.85% compared to Feb 2020, however compared to Jan 2021 LSMI decreased by 4.15%.
The production in July-February 2020-21 as compared to July-February 2019-20 has increased in Textile, Food, Beverages & Tobacco, Coke & Petroleum Products, Pharmaceuticals, Chemicals, Non Metallic Mineral Products, Automobiles and Fertilizers while it decreased in Electronics, Leather Products and Engineering Products.
A note released by Ismail Iqbal Securities highlighted “LSM growth has clocked in at 7.4% in 8MFY21. Going forward, LSM growth would accelerate as the low base effect would kick-in. To recall, due to COVID-19 LSM posted negative growth of 24% in last 4 months of the previous fiscal year (Mar-Jun FY20). We expect full year LSM growth to come north of 15%, contributing over 1.5% to GDP growth”.
