LSMI output shrinks by 7.7% in April

June 25, 2019 (MLN): The overall output of Large Scale Manufacturing Industries (LSMI) for July-April, 2018-19 decreased by 3.51% compared to July-April, 2017-18, as per monthly stats released by the Pakistan Bureau of Statistics (PBS).

Specifically in April 2019, the LSMI output decreased by 7.76% compared to April 2018 and 9.40% if compared to March 2019.

The monthly trend of Quantum Index of Manufacturing (QIM) shows that the output recorded this month is lowest in the last four months.

The production in Jul-April 2018-19 as compared to Jul-Apr2017-18 has increased in Fertilizers and Electronics while it has decreased in Food, Beverages & Tobacco, Coke & Petroleum Products, Pharmaceuticals, Chemicals, Non Metallic Mineral Products, Automobiles and Iron & Steel Products.

Among the sectors that showed growth during the 10 months of ongoing fiscal year, wood products account for the largest increase of 23.6%, followed closely by Electronics with a rise of 17.3%. Meanwhile, manufacturing of leather and rubber products recorded the smallest growth of 2.6% and 3.4% in July-April 2019-19.

On the other hand, output for iron and steel products contracted noticeably by nearly 11% this year while automobile output came down by 9.4% YoY.

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