Large-Scale Manufacturing Expands 2.5% in August 2023

The Large-Scale Manufacturing Industries (LSMI) output increased by 2.52 percent for August 2023 when compared with August 2022, according to data released by the Pakistan Bureau of Statistics (PBS) on Monday.

According to the provisional Quantum Index numbers of the Large-Scale Manufacturing Industries (QIM), LSM output increased by 8.44 percent on a month-on-month (MoM) basis in August 2023 when compared with July 2023.

The MoM growth of 8.44 percent is the highest increase on a monthly basis since December 2022, according to Arif Habib Limited.

Overall Large-Scale Manufacturing Sector has shown a growth of 0.50 percent during the first two months (July-August) of the current fiscal year (FY24) when compared with the same period of last year.

The main contributors towards the overall growth of 0.50 percent are Food (0.82), Tobacco (0.29), Textile (-4.01) Garments (5.16), Petroleum Products (0.78), Chemicals (0.18), Pharmaceuticals (2.02), Cement (1.45), Iron and Steel Products (-0.13), Electrical Equipment (-0.78) and Automobiles (-1.90), Paper and Board (-0.19) and Furniture (-2.33).

The production in July-August FY24 as compared to July-August FY23 has increased in Food, Wearing apparel, Coke and Petroleum Products, Chemicals, Pharmaceuticals, Rubber Products, Non-Metallic Mineral Products, Machinery and Equipment, and Other Manufacturing (Football) while it decreased in Beverages, Tobacco, Textile, Iron and Steel Products, Electrical Equipment, Automobiles, Other Transport Equipment and Furniture.

Source: Pro Pakistani