The activity in the manufacturing sector expanded in March 2016 at a slower pace than in January, according to company executives surveyed for the MCB Bank Purchasing Managers Index (PMI).
The PMI for March recorded a reading of 63.44, down from January’s reading of 64.54. A reading of 50 or above indicates that the manufacturing activity and the overall economy are expanding. At present, the manufacturing sector appears to be growing at a satisfactory pace with large-scale manufacturing (LSM) increasing 4.12% on a year-on-year basis in July-January 2015-16, according to the Pakistan Bureau of Statistics.
With improvements in energy supply and lower input prices, the environment for manufacturing firms has improved. However, low exports continue to cast their shadow.
Published in The Express Tribune, April 19th, 2016.
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