Pakistan’s Large Scale Manufacturing (LSM) sector’s output decreased by 5.91 percent during the first three months of the current financial year and has declined for the sixth month in a row.
According to PBS Provisional Quantum Index Numbers of Large Scale Manufacturing Industries, LSMI’s output shrank by 5.63 percent for September 2019 as compared to September 2018.
The data shows that LSMI witnessed an increase of 1.92 percent on a month on month basis in September as compared to August 2019.
Sector-wise during September alone production data of 11 items under the Oil Companies Advisory Committee registered a decrease of 0.51%, whereas 36 items under the Ministry of Industries and Production shrank by 3.48% and 65 items from Provincial Bureaus of Statistics fell by 1.63%.
July-September 2019-20 quarter
These sectors registered growth during July-September 2019-20 quarter:
- Textile by 0.17 percent
- Fertilizers increased by 15.94 percent
- Leather products grew by 4.24 percent
- Electronics were increased by 5.51 percent
- Engineering products were increased by 12.54 percent
- Rubber products grew by 2.29 percent.
The sectors which declined during the period were:
- The automobile industries registered a decline of 34.13 percent
- Iron and steel production declined by 17.04 percent
- Wood products growth declined by 28.76 percent
- Food, beverages and tobacco growth decreased by 8 percent
- Coke and petroleum products declined by 14.48 percent
- Pharmaceutical products down by 11.95 percent
- Chemicals were down by 8.93 percent
- Non-metallic minerals products were down by 0.96 percent,
- The growth of paper and board declined by 2.01 percent.
This performance reflects the overall economic slowdown across various sectors in the ongoing fiscal year. It constitutes 80% of manufacturing and 10.7% of the overall GDP.
You can check the data from here.
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