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Saturday, November 23, 2024

Home Business LSMI output decreased by 10.3pc YoY

LSMI output decreased by 10.3pc YoY

by News desk
July 22, 2020
in Business

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Observer Report

Karachi

Latest data released by PBS suggests that Large Scale Manufacturing Industries output witnessed a decrease of 25% YoY while posting a 21% surge MoM during May’20 primarily on account of easing of the nation-wide lockdown. Textile with a weight of 21% has seen a 31% decline YoY as effects of the pandemic on the global economy continued to linger on food, Beverages & Tobacco (weight: 12.4%) category saw a nominal 0.4% YoY surge.
Coke & Petroleum Products (weight: 5.5%) output contracted 18% YoY. Iron & Steel Products (weight: 5.4%) declined 31% YoY. Automobiles (weight: 4.6%) faced a 79% YoY hammering owing to subdued spending and lackluster demand.