Large Scale Manufacturing Output Contracts 1% in July

The Large Scale Manufacturing Industries (LSMI) output has declined by 3.62 percent on a month-on-month (MoM) basis as major manufacturing sectors posted negative growth, showed 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), the LSMI output decreased by 1.09 percent for July 2023 when compared with July 2022. The LSMI Quantum Index Number (QIM) was estimated for July 2023 is 108.01. The provisional quantum indices of Large Scale Manufacturing Industries (LSMI) for July 2023 with base year 2015-16 have been developed on the basis of the latest data supplied by the source agencies i.e. OCAC, Ministry of Industries & Production, Ministry of Commerce and Provincial Bureaux of Statistics (BoS). The main contributors to overall growth of -1.09 percent are, food (1.14), tobacco (0.30), textile (-4.69) garments (4.31), petroleum products (-0.16), chemicals (0.49), pharmaceuticals (2.28), cement (1.52), iron & steel products (-0.14), electrical equipment (-0.97) and automobiles (-2.59), paper & board (-0.38) and furniture (-1.85). The production in July 2023 as compared to July 2022 has increased in food, tobacco, wearing apparel, chemicals, pharmaceuticals, non-metallic mineral products and other manufacturing (football) while it decreased in beverages, textile, coke & petroleum products, iron & steel products, electrical equipment, automobiles, other transport equipment and furniture. The sectors showing a decline during July 2023 compared to July 2022 include; beverages (0.42 percent), textile (4.69 percent), leather products (0.02 percent), paper & board (0.38 percent), coke & petroleum products (0.16 percent), iron & steel products (0.14 percent), fabricated metal (0.02 percent), computer, electrical equipment (0.97 percent), automobiles (2.59 percent), other transport equipment (0.09 percent) and furniture (1.85 percent). The sectors showing growth during July 2023 compared to July 2022 include; food (1.14 percent), tobacco (0.30 percent), wearing apparel (4.31 percent), chemicals (0.49 percent), chemicals products (-0.65 percent), fertilizers (1.14 percent), pharmaceuticals (2.28 percent), rubber products (0.02 percent), non metallic mineral products (1.67 percent), machinery and equipment (0.01 percent) and other manufacturing (football) 0.05 percent.