The overall output of Pakistan’s large-scale manufacturing industry (LSMI) has shown a decline of 2.89% in first four months of the current fiscal year (2022-23) compared to the corresponding period of last year, WealthPK reported. According to the provisional quantum indices of LSMI for October 2022 released by the Pakistan Bureau of Statistics (PBS), the output of large-scale industry on a year-on-year (YoY) basis reduced by 7.75% in October 2022 compared to the same month of last year, whereas it went down by 3.62% compared to September 2022.

The provisional quantum indices of LSMI for October 2022 with the base year 2015-16 have been developed on the basis of the latest data supplied by the source agencies including the Ministry of Industries and Production, Ministry of Commerce and Provincial Bureaus of Statistics.During the period from July-October 2022, the sectors showing growth included wearing apparel 4.44%, leather products 0.05%, chemicals 0.08%, chemical products 0.13% iron and steel products 0.06%, furniture 1.74%, and other manufacturing 0.17%. The sector showing decline during the period under review included food 0.72%, beverages 0.01%, tobacco 0.58%, textile 1.92% wood products, 0.03% and 0.08 % respectively.

Credit : Independent News Pakistan-WealthPk