In November 2023, Pakistan’s Large Scale Manufacturing Industries (LSMI) experienced a notable monthly growth of 3.63 per cent, reaching a production index of 114.85, as reported by the Pakistan Bureau of Statistics (PBS).
This marks an increase from the October 2023 figure of 110.83.
On an annual basis, LSMI output demonstrated a year-on-year rise of 1.59 per cent, contrasting with the November 2022 recorded index of 113.05.
However, when considering the cumulative data for the first five months of Fiscal Year 2024 (5MFY24), LSMI exhibited a marginal decline of 0.8 per cent when compared to the corresponding period in the previous year.
Various sectors played a significant role in contributing to this overall decline of -0.80 per cent. Notable contributors to the growth include food (0.53), garments (3.18), petroleum products (0.43), chemicals (0.32), pharmaceuticals (1.56), and cement (0.17).
Conversely, sectors such as tobacco (-0.80), textiles (-2.48), paper and board (-0.11), iron and steel products (-0.09), electrical equipment (-0.45), automobiles (-1.70), and furniture (-1.65) experienced contractions.
The provisional quantum indices of LSMI for November 2023, based on the 2015-16 reference year, have been formulated using the latest data provided by the relevant source agencies.
