The Larges Scale Manufacturing Industries (LSMI) Index registered a 6.33 percent increase during the July – January period of the fiscal year 2018 in comparison to the same period last year.
Official figures released by the Pakistan Bureau of Statistics for first seven months of fiscal year 2018 show that year on year OCAC Production grew by +0.59 percent, Ministry of Industry Numbers grew by +4.46 percent whereas Provincial BOS increased by 1.28 percent as well.
On a monthly basis, during January, LSMI Production increased by 13.58 percent with Ministry of Industries boasting a 13.87 percent increase, followed by OCAC with 0.92 percent with just the exception of Provincial BOS falling by 1.20 percent.
Electronics +45.26%, Iron & Steel +33.90% and Automobiles +21.23% were star performers for the period between July to January of the current fiscal year. Chemicals -0.08%, Textile +0.48% were the laggards during the period as various factors converged to a decline in production for the sectors in question.
Best performing sectors during July-January 2017-18, January 2018
YOY Growth Impact
Jul – Jan 2018
Iron & Steel Products
Non Metallic Mineral Products
Coke & Petroleum Products
Paper & Board
Overall, OCAC and Ministry of Productionhave been posting positive LSMI Numbers over the course of last few months which is beneficial to the overall output of the economy. But the current pick up in LSM if sustained over a long period of time will have a decided impact on the economic output.