Large-scale manufacturing (LSM) registered a decline of 7.75 percent year-on-year in October, with the textile, machinery and equipment, and automobiles sectors shrinking, data shared by the Pakistan Bureau of Statistics (PBS) showed on Thursday.
Compared to August, the LSM posted an annual increase of 0.1 percent in September, according to government figures. That represented a significant improvement over July, when the LSM dropped by 1.4 percent annually.
Nevertheless, experts had expressed worries about a downturn in the economy brought on by record energy and raw material costs.
The main contributors to the YoY decline were automobiles (down 30.56pc); textile (24.62pc); machinery and equipment (38.01pc); wood products (81.75pc); computer, electronics and optical products (25.66pc); and pharmaceuticals (18.56pc).
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On the other hand, the furniture sector grew 105.41pc, followed by football (65.46pc) and wearing apparel (34.14pc).
PBS data showed that LSM dipped by 3.62pc in October over the preceding month.
Moreover, in the July-October period, LSM shrank 2.89pc compared to the first four months of the previous fiscal year.
In the previous fiscal year, large-scale manufacturing grew 11.7pc year-on-year.
