LSMI grows by 2.49 percent in December

February 15, 2019: The output of Large Scale Manufacturing Industries (LSMI) of country during the month of December 2018 witnessed growth of 2.49 percent as compared the production of November, 2018.

However, the overall output of LSMI witnessed slight decreased of 1.53 percent during the period from July-December, 2018-19 as compared to the corresponding period of last year, according to data of Pakistan Bureau of Statistics released on Friday.

The Provisional Quantum index of Large Scale Manufacturing Industries for December, 2018 with base year 2005-06, have been developed on the basis of latest data supplied  by the source agencies, it added.

In December, 2018, the  LSMI output  decreased  by 10.19 percent as compared to corresponding month of last year, whereas it increased by 2.49 percent when it was compared with the month of November 2018, the data reveled.

The industrial sector which had recorded growth in their respective output including fertilizer sector by 0.36 percent, electronics by 0.92 percent, engineering products, 0.03 percent, rubber products increased by 0.02 percent and wood products 0.00 percent.

The manufacturing of textile, food, beverages, coke, and petroleum, pharmaceuticals, chemicals and nonmetallic, metallic production remained on down track during firs half of current financial year as against the same period of last year.

The other large scale manufacturing industries including automobiles, iron and steel production, leather production, paper and board output also reduced in first two quarters of financial year 2018-19.

The production in July-December, 2018-19 as compared to July-December 2017-18 has significantly decreased in pharmaceuticals, coke and petroleum products, iron, steel products and electronics while it has increased in fertilizers and electronics.

As a result, overall large scale manufacturing sector has shown decline of 1.53 percent during July- December 2018-19 when compared with the same period of last year

(APP)