Big industry output falls 2.7 per cent in August

The Large-Scale Manufacturing (LSM) sector contracted 2.65 per cent year-on-year in August, according to data released by the Pakistan Bureau of Statistics on Thursday. The LSM enters a negative growth following a positive growth of 2.38pc in July. The LSM has grown positively for the last six months since December 2023 before entering negative territory in June. In FY24, the LSM witnessed a negative growth of 0.03pc. The quantum index of LSM industries was 111.33 points in August compared to 114.36 in the same month last year. However, it surged from July’s 106.35 points. For the first two months (July-August), the LSM showed a negative growth of 0.19pc year-on-year. Eleven out of 22 sectors recorded negative growth in August. These sectors included beverages, textiles, paper and board, chemicals, automobiles, non-metallic mineral products, iron and steel products, fabricated metals, computers, electronics and optical products, electrical equipment and furniture.