LSM posts 9pc growth in 9MFY21

Big industries posted 9 per cent growth during the first nine months of current fiscal year but the index slid for the second successive month, suggesting an uneven growth momentum due to disruptions caused by the pandemic.

The Large-scale Manufacturing (LSM) sector registered a cumulative growth of 9pc in July-March of current fiscal year, reported the Pakistan Bureau of Statistics (PBS) on Friday.

March was the second successive month when the index dropped over the previous month, again slipping below pre-Covid levels and standing at 155.6. On a month-on-month basis, the LSM sector showed a contraction of 7.7pc in March over February 2021.

LSM expansion had slowed in January after posting a double-digit growth in December and November on the back of higher automobile, cement products and one-time sugar output, which reflects the revival of industrialisation. In February, LSM posted a growth of 4.85pc.

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In December and November last year, LSM grew by 11.4pc and 14.5pc, respectively, on a year-on-year basis.

Out of 15 major sectors, nine sectors recorded positive growth while the output of six sectors, being monitored by the federal and provincial governments, dropped in the first nine months of current fiscal year, according to the PBS.

 

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