The Large Scale Manufacturing Industries (LSMI) sector recorded a contraction of 0.76% during the first quarter (July-September) of FY2024-25, reflecting mixed trends across industries, according to provisional data released by the Pakistan Bureau of Statistics (PBS).
For September 2024, the Quantum Index of Manufacturing (QIM) stood at 111.95, marking a 0.46% growth month-on-month (MoM) compared to August but showing a 1.92% decline year-on-year (YoY) against September 2023.
Sectoral analysis reveals varied performance. The garments sector led growth with a 23.83% increase in September and 17.62% growth for the quarter, while the automobile sector expanded by 32.96% in September and 26.44% in Q1 FY25.
On the other hand, cement production declined by 15.68% in September and 15.03% for the quarter, and the iron and steel products sector contracted by 10.67% and 12.60%, respectively.
Other notable contributors include petroleum products, which grew 9.52% in September and 7.85% for the quarter, and fertilizers, which posted modest increases of 4.84% and 2.33%, respectively.
The PBS data also highlights key contributors to the overall contraction, including negative performances in the cement, iron & steel products, and electrical equipment sectors.
Conversely, positive contributions were made by food, garments, and automobiles.
The LSMI sector remains a critical driver of economic activity in Pakistan, but the mixed performance indicates ongoing challenges amid broader economic constraints.
