Large-scale manufacturing shows growth of 1.84pc in Jan 2024
Large-scale manufacturing (LSM) has shown growth of 1.84 percent in January 2024 over the corresponding period of the previous year. According to data released by the Pakistan Bureau of Statistics (PBS) here, the LSMI index reached 132.43 points in January 2024 as against 130.03 in the same month of the last year, showing an increase of 1.84 percent. Meanwhile, the LSM growth has narrowed by 0.52 percent in seven months (July to January) of the current fiscal year when compared with the same period of last year. The decline in LSM growth indicates that economic activities have slowed in the country amid higher cost of production and uncertain political and economic situation. The export-based manufacturers have already hinted at a decline in their production due to higher costs of energy and other inputs mainly because of the discontinuation of subsidised electricity. The decline in the industrial sector would also dent the overall GDP growth of the country. The international financial institutions have already predicted lower economic growth of Pakistan.
Read more: https://www.nation.com.pk/16-Mar-2024/large-scale-manufacturing-shows-growth-of-1-84pc-in-jan-2024
