The country's Large Scale Manufacturing (LSM) during the first five months of the current financial year (July-November 2019) witnessed a decline of 5.93 percent from 136.17 points in July-November 2018-19 to 128.10 points in 2019-20, said Pakistan Bureau of Statistic (PBS) on Friday. According to PBS Provisional Quantum Index Numbers of Large Scale Manufacturing Industries (LSMI), the LSM output was reduced by 4.61 percent for November 2019 as compared to November 2018.
The PBS data revealed that LSMI also witnessed a reduction of 3.78 percent on month on month (MoM) basis in November as compared to October 2019 from 133.38 points to 128.34 points.
According to PBS data, during July-November 2019-20 against July-November 2018-19, automobile industries growth registered a decline of 37.75 percent, iron and steel production declined by 13.82 percent, coke and petroleum products declined by 12.19 percent, electronics by 16.22 percent, pharmaceuticals by 8.38 percent, and food, beverages and tobacco by 6.57 percent.
The sector showing increase during the period from July-November 2019 included textile by 0.27 percent, non-metallic mineral products growth jumped up by 1.91 percent, fertilizers registered a growth of 8.04 percent, leather products recorded a growth of 9.47 percent, engineering products growth went up by 1.46 percent, wood products registered a growth of 55.13 percent and rubber products' growth witnessed an increase of 2.21 percent.
The PBS said the provisional quantum of LSM for September 2019 with base year 2005-06 has been developed on the basis of the latest data supplied by the sources agencies such as Oil Companies Advisory Council (OCAC), Ministry of industries and Provincial Bureau of Statistics (BOS).
The data said that during July-November 2019-20 as compared with same period of the last financial year, growth of 11 items related to OCAC industries witnessed a decline of 12.19 percent from 116.16 points to 102.09 points, Ministry of Industries related 36 items registered a negative growth of 5.61 percent from 125.10 points to 118.08 points and 65 items related to provincial BOS showed a negative growth of 5.21 percent from 178.88 points to 169.56 points.
On monthly basis, Oil Companies Advisory Council (OCAC) related industries registered a reduction of 0.23 percent, Ministry of Industries related LSM recorded a negative growth of 3.88 percent and Provincial Bureau of Statistics (BOS) related LSM also registered a decline of 0.32 percent.
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