Big Industry Output Shrinks in October, Raising Concerns
Big Industry Output Shrinks in October, Raising Concerns
A cold wind swept through the manufacturing sector in October, with large-scale industrial output (LSM) contracting by 4.08% year-on-year, according to data released this week. This unexpected dip marks a worrying trend and raises questions about the health of the economy.
Pakistan's Large Scale Manufacturing (LSM) contracted by 4.08% YoY, with key contributors to the decline including the textile, paper and board, iron and steel, electrical equipment, automobiles, and furniture sectors.
In October, there was a notable decline in iron and steel production, which experienced a decrease of 1.56pc and electrical equipment of 17.20pc.
The production of fertilizers experienced a surge of 8.81pc, while the production of rubber items ...