LSM output expands 3.4pc in December

Large-scale manufacturing (LSM) continued to recover in December for the second consecutive month, data released by the Pakistan Bureau of Statistics showed on Thursday. LSM posted a paltry growth of 3.43 per cent in December on a year-on-year basis. In November, the growth in LSM was recorded at 1.59pc. The main contributors to positive growth are food, beverages, wearing apparel, leather products, petroleum products, pharmaceuticals and chemicals. The LSM turned positive in August 2023 after 14 months of contraction and extended the growth in September as well. However, the big industry output shrank 4.08pc in October on a year-on-year basis.