YoY: Pakistan's LSM manufacturing plummets 7.75pc in October
Last updated on: 15 December,2022 04:16 pm
YoY: Pakistan’s LSM manufacturing plummets 7.75pc in October
LAHORE (Web Desk) - Large-scale manufacturing (LSM) in Pakistan plunged by 7.75 per cent year-on-year in October, the Pakistan Bureau of Statistics (PBS) data showed on Thursday.
Textile, machinery and equipment, and automobiles sectors also contracted during the period. The large scale manufacturing had recorded growth in September, posting an annual increase of 0.1pc compared to August, official data showed.
The main contributors to the YoY decline were automobiles, 30.56pc; textile 24.62pc; machinery and equipment 38.01pc; wood products 81.75pc; computer, electronics and optical products 25.66pc; and pharmaceuticals 18.56pc.
However, the furniture sector expanded 105.41pc, followed by football 65.46pc and wearing apparel 34.14pc. PBS data showed that LSM dipped by 3.62pc in October over the preceding month.
Moreover, in the July-October period, LSM shrank 2.89pc compared to the first four months of the previous fiscal year.
The PBS data further shows that the production in July-October 2022-23 as compared to July-October 2021-22 has increased in wearing apparel and furniture.
However, it decreased in food, tobacco, textile, coke a nd petroleum products, pharmaceuticals, rubber products, non-metallic mineral products, fabricated metal, electrical equipment, machinery and equipment, automobiles and other transport equipment.