Large Scale Manufacturing Industries (LSMI) Records 3.63% Month-on-Month Growth in November
On a yearly basis, the LSMI output showcased a positive trajectory, experiencing a 1.59% year-on-year (YoY) growth compared to November 2022's recorded value of 113.05.
Karobar
In November 2023, Pakistan's Large Scale Manufacturing Industries (LSMI) demonstrated a notable upswing, with a month-on-month (MoM) production increase of 3.63%, reaching 114.85 compared to the preceding month's figure of 110.83, as reported by the Pakistan Bureau of Statistics (PBS) today.
However, a comprehensive overview for the first five months of the fiscal year 2023-24 reveals a marginal decline of 0.8% in LSMI when juxtaposed with the corresponding period in the previous year.
Breaking down the contributing sectors to this 0.80% contraction, notable figures include positive growth from Garments (3.18), Food (0.53), and Pharmaceuticals (1.56). Conversely, Textile (-2.48), Tobacco (-0.80), and Automobiles (-1.70) faced declines. Other sectors such as Paper & Board, Petroleum Products, Chemicals, Cement, Iron & Steel Products, Electrical Equipment, and Furniture also played a role in the overall contraction.
To ensure accuracy, it's important to note that these figures are provisional quantum indices of LSMI for November 2023, using the base year 2015-16. The calculations are based on the latest data provided by the respective source agencies.
