The HBL Pakistan Manufacturing PMI eased to 50.9 in September from 51.8 in August, marking the slowest expansion in three months, Business Recorder reported. A reading above 50 still indicates growth, but the smaller margin suggests activity is losing momentum.
New orders contracted for the first time since June as fuel costs and pressure on household purchasing power weighed on demand. Export orders offered a counterpoint, extending their growth streak to five months, while manufacturers increased purchasing to build inventories.
For business planners, the mix signals a split between softer local demand and comparatively resilient export orders. The next PMI releases will show whether firms’ inventory build is preparation for stronger activity or a response to supply uncertainty.
