Islamabad July 18 2024: Pakistan industrial activity measured by LSMI Index recorded a YoY growth of 7.33 percent in May 2024, reaching a 23-month high, according to data released by Pakistan Bureau of Statistics.
According to the data, Large Scale Manufacturing (LSM) growth in May 2024 reached a 23-month high of 7.33 percent YoY. This growth was primarily driven by a remarkable 40.7 percent YoY increase in the garments sector, which holds a 6.1 percent weight in the LSM basket.
For 11MFY2024, LSM growth stands at 1.0 percent, compared to an estimated 0.07 percent used in calculating the GDP growth for FY2024.
The production in July-May 2023-24 as compared to July-May 2022-23 has increased in Food, Wearing apparel, Coke & Petroleum Products, Chemicals, Fertilizers, Pharmaceuticals, Machinery and Equipment and Furniture while it decreased in Tobacco, Textile, Paper & Board, Non Metallic Mineral Products, Iron & Steel Products, Electrical Equipment, Automobiles and Other Transport Equipment.
