LSMI shrinks 2.2% MoM in October

MG News | December 16, 2024 at 07:11 PM GMT+05:00
December 16, 2024 (MLN): The large-scale manufacturing Index (LSMI) sector of Pakistan recorded a drop of 2.2% MoM in October 2024 to 109.10 compared to September's 111.60 points, the Pakistan Bureau of Statistics (PBS) reported Monday.
On a year-on-year basis, the sector's growth remained steady, but during the first four months of FY2024-25, LSMI contracted by 0.6% YoY.
Industry accounts for about 18% of Pakistan's total GDP at producer prices. Data on industrial production in Pakistan is not available on a high-frequency basis, as GDP figures are officially released quarterly with at least a two-month lag..
As a proxy for industrial production, policymakers in Pakistan rely on Large Scale Manufacturing (LSM), which is a sub-component of total industrial production. The performance of LSM is a key indicator of the overall health of the industrial sector and is assessed monthly through the Quantum Index of Large-Scale Manufacturing Industries (QIM).
Historically, LSM dominates the manufacturing sector of GDP, accounting for around 69% of manufacturing — a sub-component of Industry — and about 8% of the overall GDP.
Economic activity began to rebound in the second half of FY24. However, global demand slump, currency devaluation, and a widening current account deficit severely limited the government's flexibility, particularly in maintaining fiscal discipline amidst stringent financial conditions.
Copyright Mettis Link News
Related News
Name | Price/Vol | %Chg/NChg |
---|---|---|
KSE100 | 138,597.36 256.32M | -0.05% -68.14 |
ALLSHR | 85,286.16 608.38M | -0.48% -413.35 |
KSE30 | 42,340.81 77.13M | -0.03% -12.33 |
KMI30 | 193,554.51 76.19M | -0.83% -1627.52 |
KMIALLSHR | 55,946.05 305.11M | -0.79% -443.10 |
BKTi | 38,197.97 16.53M | -0.59% -225.01 |
OGTi | 27,457.35 6.73M | -0.94% -260.91 |
Symbol | Bid/Ask | High/Low |
---|
Name | Last | High/Low | Chg/%Chg |
---|---|---|---|
BITCOIN FUTURES | 117,670.00 | 121,165.00 117,035.00 | -1620.00 -1.36% |
BRENT CRUDE | 69.23 | 70.77 69.14 | -0.29 -0.42% |
RICHARDS BAY COAL MONTHLY | 96.50 | 0.00 0.00 | 2.20 2.33% |
ROTTERDAM COAL MONTHLY | 104.50 | 104.50 104.50 | -0.30 -0.29% |
USD RBD PALM OLEIN | 998.50 | 998.50 998.50 | 0.00 0.00% |
CRUDE OIL - WTI | 66.03 | 67.54 65.93 | -0.20 -0.30% |
SUGAR #11 WORLD | 16.79 | 17.02 16.71 | 0.05 0.30% |
Chart of the Day
Latest News
Top 5 things to watch in this week
Pakistan Stock Movers
Name | Last | Chg/%Chg |
---|
Name | Last | Chg/%Chg |
---|