LSMI Output increased by 7.19% during July – November, 2017

Pakistan Bureau of Statistics today released the provisional quantum indices of Large Scale Manufacturing Industries (LSMI) for November, 2017. Year on year, cumulative LSMI indices for July – November increased by 7.19%.

Year on year, LSMI posted negative results with overall decline in growth by 2.02%. OCAC, Ministry of Industries and Provincial BOS during the month of November 17 against November 16 all posted declines in growth at 1.78%, 0.40% and 3.94% respectively.

Month on Month, November numbers fell against the indices of October 2017. Total LSMI Output during November, 2017 fell by 6.12% against October, 16. OCAC down by 1.78%, and Provincial BOS down by 3.94%.

Electronics +55.7%, Iron & Steel +40.38% and Automobiles +24.4% were star performers for the period between July to November. Fertilizer -11.12%, Leather Products -0.18% were the laggards during the period as seasonal factors contributed to a dip in demand from local sectors.

Overall, OCAC, Ministry of Production, and Provincial BOS have 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 negative trend falling right before the budgetary announcements will have a definite impact on the performance of economy.