Islamabad January 22 2022: The Large Scale Manufacturing Index (LSMI) output increase paltry by 0.3 percent in November 2021 compared to November 2020 and increased by 1.91 percent if compared to October 2021, as per data published by Pakistan Bureau of Statistics.
This is the second lowest monthly growth since August 2020, according to data of PBS.
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The PBS has rebased the index for the manufacturing sector to 2016-17, but the estimation for November was still made on the old base of 2005-06.
The PBS snapshot of manufacturing activity showed that seven of the 15 sub-sectors in the LSM dropped in the month of November 2021.
The sector that witnessed dipped in activity in November include Food, Beverages & Tobacco (7.76 percent), Coke & Petroleum Products (5.5), Pharmaceuticals (16.98 percent), Leather products (1.19 percent), Fertilizer (3.71 percent), Electronics (10.05 percent) and Rubber products (27.25 percent).
While, the production in November 2021 as compared to November 2020 has increased in Textile (0.96 percent), Chemicals (14.15 percent), Automobile (20.28 percent), Iron & Steel products (30.21 percent), Paper & Paperboard (4.95 percent), Engineering products (3.89 percent), wood products (385.39 percent) and Non Metallic Mineral Products (8.34 percent)
The overall output of LSMI increased by 3.3 percent for July-November 2021-22 compared to July-November 2020-21.
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The production in July-November 2021-22 as compared to July-November 2020-21 has increased in Textile (0.92 percent), Food, Beverages & Tobacco (1.46 percent), Coke & Petroleum Products (4.72 percent), Pharmaceuticals (1.46 percent), Chemicals (7.44 percent), Automobiles (34.49 percent), Iron & Steel products (25.27 percent), Leather products (8.23 percnet), Paper & Paperboard (8.45 percent), Engineering products (1.52 percnet) and Wood products (200.46 percent).
On the other hand in first five months of current fiscal year it decreased in Non Metallic Mineral Products (0.66 percent), Fertilizers (6.55 percent), Electronics (10.63 percent) and Rubber Products (31.26 percent).