July-October: LSM down 6.48 percent YoY

The country's Large Scale Manufacturing (LSM) witnessed a decline of 6.48 percent during the first four months of the current financial year, ie, from 136.51 points in 2018-19 to 127.66 points in 2019-20, Pakistan Bureau of Statistic (PBS) said on Wednesday.

According to PBS Provisional Quantum Index Numbers of Large Scale Manufacturing Industries (LSMI), the LSM output was reduced by 7.97 percent for October 2019 as compared to October 2018.

The PBS data revealed that LSMI witnessed an increase of 4.01 percent on month on month (MoM) basis in October as compared to September 2019 from 126.81 points to 131.9 points.

According to PBS data, during July-October 2019-20 against July-October 2018-19, automobile industries growth registered a decline of 36.07 percent, iron and steel production declined by 15 percent, coke and petroleum products declined by 13.77 percent, pharmaceuticals by 10.28 percent, electronics declined by 8.87 percent, chemicals declined by 8.84 percent, food, beverages and tobacco growth decreased by 8.4 percent and paper and board growth declined by 2.2 percent.

The sector showing increase during the period from July-October 2019 included textile by 0.18 percent, non-metallic mineral products growth jumped up by 0.38 percent, fertilizers registered a growth of 10.71 percent, leather products recorded a growth of 7.74 percent, engineering products growth went up by 8.33 percent, wood products registered a growth of 60.14 percent and rubber products' growth witnessed an increase of 1.55 percent.

The PBS said the provisional quantum of LSM for September 2019 with base year 2005-06 has been developed on the basis of latest data supplied by the sources agencies such as Oil Companies Advisory Council (OCAC), Ministry of industries and Provincial Bureaus of Statistics.

The data said that during July-October 2019-20 as compared with same period of the last financial year, growth of 11 items related to OCAC industries witnessed a decline of 13.77 percent from 117.80 points to 101.58 points, Ministry of Industries related 36 items registered a negative growth of 6.15 percent from 125.74 points to 118.01 points and 65 items related to provincial Bureaus of Statistics showed a negative growth of 5.53 percent from 177.83 points to 168 points.

On monthly basis, Oil Companies Advisory Council (OCAC) related industries registered an increase of 0.17 percent, Ministry of Industries related LSM recorded a positive growth of 3.31 percent and Provincial Bureau of Statistics (BOS) related LSM registered a growth of 0.52 percent.