By Jawad Ahmed ISLAMABAD, March 30, (INP WealthPK):  Industrial output rose for the seventh month in a row, with large-scale manufacturing (LSM) increasing by 8.2% in January, indicating an extraordinary increase in the output, according to data provided by the State Bank of Pakistan (SBP). During the first seven months (July-January) of FY 2021-22, LSM grew by 7.6% compared to 1.8% during the corresponding period of FY 2020-21. According to an SBP report, the LSM has continued to grow following the previous year’s growth pattern. The year-on-year (YoY) data of LSM growth showed an upsurge to 8.2% in January 2022 from 3.6% in the corresponding period of 2021, reported WealthPK. Since the beginning of FY21-22, large industries have recovered and production has continued to rise. The Covid-19 pandemic and shutdowns caused a decline in production activities in the final half of FY20-21. [caption id="attachment_65446" align="aligncenter" width="696"] Source: SBP/Pakistan Bureau of Statistics and WealthPK research[/caption] The precedent growth in output of big industries is estimated using the rebased index 2015-16. According to the SBP monthly report published in March 2022, food, beverages, tobacco, textile, wearing apparel, leather products, wood products, paper & board, coke & petroleum products, chemicals, iron & steel products, machinery and equipment, automobiles and furniture showed strong production growth during the period. During July-January FY22, food sector grew by 3.4%, beverages 2.5%, tobacco 21.9%, textiles 2.9%, wearing apparels 18.3%, leather products 4.5%, wood products 172%, paper & board 8.2%, coke and petroleum products 0.5%, chemical products 5.4%, iron & steel products 17.5%, machinery & equipment 20.6%, automobiles 63.5%, furniture 553%, and other manufacturing increased by 22.2% over last year. However, manufacturing of pharmaceuticals products declined by 3.5%, rubber production reduced by 25.5%, fabricated metal minus 5.5%, computer and optical products fell by 1.1%, production of electrical equipment reduced by 1.2% and manufacturing of other transport equipment including motorcycles went down by 3% during the first seven months of the current fiscal year. The SBP data of manufacturing activity showed that 15 out of 22 sub-sectors in LSM rose during the month under review. During the current fiscal year, a single-digit interest rate and lower duties on raw materials are expected to boost economic activity even further. Following a dramatic decline in FY21, the government’s wise decision to recommence commercial activity and the adoption of smart lockdown lifted spirits and helped the economy regain traction. The growth trajectory is predicted to show the strongest economic recovery until the end of the current fiscal year.