Pakistan’s LSMI production decreases by 2% MoM in October

MG News | December 15, 2023 at 07:03 PM GMT+05:00

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December 15, 2023 (MLN): Pakistan’s Large Scale Manufacturing Industries (LSMI) production decreased by 2% MoM in October 2023 to stand at 111.06 compared to 113.32 in September 2023, the Pakistan Bureau of Statistics (PBS) reported today.

Moreover, on a yearly basis, the LSMI output witnessed a decrease of 4.08% YoY against 115.78 recorded in October 2022.

Cumulatively in 4MFY24, LSMI has shown a decline of 0.44% when compared with the same period of last year.

The main contributors towards overall growth of -0.44% are, Food (0.61), Tobacco (-0.75), Textile (-3.12) Garments (3.98), Paper & Board (-0.10), Petroleum Products (0.49), Chemicals (0.22), Pharmaceuticals (1.66), Cement (0.42), Iron & Steel Products (-0.10), Electrical Equipment (-0.50) ,Automobiles (-1.51) and Furniture (-1.84).

The production in 4MFY24 as compared to 4MFY23 has increased in Food, Beverages, Wearing apparel, Coke & Petroleum Products, Chemicals, Fertilizers, Pharmaceuticals, Non Metallic Mineral Products, Machinery and Equipment and Other Manufacturing (Football) while it decreased in Tobacco, Textile, Iron & Steel Products, Electrical Equipment, Automobiles, Other Transport Equipment and Furniture.

The provisional quantum indices of LSMI for October 2023 with the base year 2015-16 have been developed on the basis of the latest data supplied by the source agencies.

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