November big industry output rises by 3.5% MoM
MG News | January 17, 2023 at 12:39 PM GMT+05:00
January 17, 2023 (MLN): The large-scale manufacturing industries (LSMI) output increased by 3.55% MoM in November 2022, the latest data published by the Pakistan Bureau of Statistics showed on Tuesday.
However, on yearly basis, the large-scale output dropped by 5.49% as the index clocked in at 112.30 compared to 118.81 during the same month last year.
Overall, the LSMI index for 5MFY23 clocked in at 111.41 points, witnessing a decline of 3.58% compared with the same period of last year.
The reduction in output from food, tobacco, textile, garments, petroleum product, pharmaceuticals, and automobiles related industries become the major reason behind the overall decline in LSM numbers in 5MFY23.
The relative slowdown in the overall economy as the interest rates remained high and elevated inflation has affected the production activities of notable industries.
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