The Large Scale Manufacturing Industries (LSMI) output decreased by 7.75 percent for October 2022 when compared with October 2021, the highest drop in over five years (excluding the peak Covid-19 period March-July 2020).
According to the Pakistan Bureau of Statistics (PBS), the LSMI output is down 3.62 percent when compared with September 2022.
LSM for Oct 2022 down 7.75% YoY. The highest drop in over 5 years (excluding the peak Covid period Mar-Jul 2020).
Numbers for previous month also adjusted downward from 0% to negative 2.28%. pic.twitter.com/rwbXq4Hhto
— Zuhair Abbasi (@zuhair_abbasi) December 15, 2022
The Large Scale Manufacturing Sector has shown a decline of 2.89 percent in July-October 2022-23 when compared with the same period of last year, says Pakistan Bureau of Statistics (PBS).
The Quantum Index of Large Scale Manufacturing Industries (QIM) estimated for July-October, 2022-23 is 111.43. QIM estimated for October 2022 is 108.32. Overall Large Scale Manufacturing Sector has shown a decline of 2.89 percent from July-October 2022-23 when compared with the same period of last year.
The main contributors to the overall growth of -2.89 percent are Food (-0.72), Tobacco (-0.58), Textile (-1.92) Garments (4.44), Petroleum Products (-1.38), Cement (-1.23), Pharmaceuticals (-1.57), and Automobiles (-1.38).
The production in July-October 2022-23 as compared to July-October 2021-22 has increased in Wearing apparel and Furniture while it decreased in Food, Tobacco, Textile, Coke & Petroleum Products, Pharmaceuticals, Rubber Products, Non-Metallic Mineral Products, Fabricated metal, Electrical Equipment, Machinery and Equipment, Automobiles and Other transport equipment.
