Photo: filePakistan’s big manufacturing industries including readymade garments, fertiliser and iron and steel have surprisingly turned around as their output grew 3.9% in August compared to July, ending a four-month downtrend. However, in the first two months (Jul-Aug) of current fiscal year, the LSM output dropped by 0.4% year-on-year. Experts said the year-on-year growth of 0.6% in large-scale manufacturing (LSM) output in August was in line with expectation. The nominal growth came in the wake of a low base effect (significantly low production in the same month of last year). “LSM output is expected to remain low due to overall economic slowdown over four months (Sept-Dec),” he said.

Source: The Express Tribune October 20, 2022 07:40 UTC