Pakistan's LSMI production declines 3.56% in September

Pakistan's Large Scale Manufacturing Industries (LSMI) experienced a 3.56 percent month-on-month decline in production, standing at 112.85 in September 2023 compared to 117.02 in August 2023, as reported by the Pakistan Bureau of Statistics (PBS).

The LSMI output demonstrated a 1.01 percent year-on-year increase, recording 112.85 against the 111.73 figure noted in September 2022. 

Looking at the cumulative performance in the first three months of the fiscal year 2023-24 (3MFY24), LSMI exhibited a growth of 0.68 percent when compared to the corresponding period of the previous year.

The key contributors to the overall growth of 0.68 percent in LSMI during this period were Food (0.61), Tobacco (-0.71), Textile (-4.26), Garments (5.47), Petroleum Products (0.86), Chemicals (0.16), Pharmaceuticals (1.81), Cement (0.84), Iron & Steel Products (-0.11), Electrical Equipment (-0.47), Automobiles (-1.45), Paper & Board (-0.18), and Furniture (-2.09).

Analyzing the production trends from July to September 2023-24 compared to the same period in the previous fiscal year (July-September 2022-23), growth was observed in Food, Beverages, Wearing apparel, Coke & Petroleum Products, Chemicals, Fertilizers, Pharmaceuticals, Non-Metallic Mineral Products, Machinery and Equipment, and Other Manufacturing (Football). Conversely, a decrease was noted in Tobacco, Textile, Iron & Steel Products, Electrical Equipment, Automobiles, Other Transport Equipment, and Furniture.