October 16, 2023 (MLN): Pakistan’s Large Scale Manufacturing Industries (LSMI) production increased by 8.44% MoM in August 2023, the highest monthly increase since December 2022, to stand at 117 compared to 107.89 in July 2023, the Pakistan Bureau of Statistics (PBS) reported today.
Similarly, on a yearly basis, the LSMI growth witnessed an increase of 2.52% YoY against 114.12 recorded in August 2022.
Commulatively in 2MFY24, LSMI has inched up by 0.50% YoY compared to the SPLY.
The main contributors towards overall growth of 0.50% are, Food (0.82), Tobacco (0.29), Textile (-4.01) Garments (5.16), Petroleum Products (0.78), Chemicals (0.18), Pharmaceuticals (2.02), Cement (1.45), Iron & Steel Products (-0.13), Electrical Equipment (-0.78) and Automobiles (-1.90), Paper & Board (-0.19) and Furniture (-2.33).
The production in July-August 2023-24 as compared to July-August 2022-23 has increased in Food, Wearing apparel, Coke & Petroleum Products, Chemicals, Pharmaceuticals, Rubber products, Non Metallic Mineral Products, Machinery and Equipment and Other Manufacturing (Football) while it decreased in Beverages, Tobacco, Textile, Iron & Steel Products, Electrical Equipment, Automobiles, Other Transport Equipment and Furniture.
The provisional quantum indices of Large Scale Manufacturing Industries (LSMI) for August, 2023 with base year 2015-16 have been developed on the basis of latest data supplied by the source agencies.
