Large-Scale Manufacturing output shrinks 13.3pc in April.

ISLAMABAD -- In the first month of the PML-N-led coalition government, the Large-Scale Manufacturing (LSM) shrank month-on-month by 13.3 per cent in April, the Pakistan Bureau of Statistics (PBS) reported on Thursday.

The big industry posted a robust growth of 26.6pc in March, the last month of the PTI government. However, the LSM grew year-on-year 15.4pc in April.The production estimation for LSM industries was made on the new base year of 2015-16. However, the PBS also released a separate estimation with old base of 2005-06.

As per the old base 2005-06, the LSM grew by 5.3pc in April compared to a year ago. On a month-on-month basis, the industry's production declined by 22.8pc. The calculations in both estimations show a downward trend as LSM entered a negative growth on a month-on-month basis.

In the first 10 months (July-April) of the current financial year, LSM grew by 10.7pc on a year-on-year basis as per the new base. However, the growth is calculated at 6.7pc in the 10 months on the basis of the old base-2005-06.The PBS snapshot of manufacturing activity showed that seven out of 15 sub-sectors in the LSM dipped in April. High-interest rates and depreciation of the rupee have increased the cost of raw materials further, and economic activity is expected to slightly slow down during the current financial year.

Production expands 10.7pc year-on-year in 10MFY22

The LSM, at 9.73pc of GDP dominates the overall manufacturing sector, accounting for 76.1pc of the sectoral share. It is followed by small-scale manufacturing, which accounts for 2.12pc of GDP and 16.6pc sectoral share.

As per the PBS data, the entire automobile sector, excluding LCVs and trucks, showed strong growth in...