ghazi52
THINK TANK: CONSULTANT
- Thread starter
- #106
LSM hits the stride
May 7, 2026By BR Research
Large-Scale Manufacturing delivered a strong March close, with year-on-year growth accelerating to 11.09 percent, the highest in 45 months. The latest reading reinforces the sense that the sector has moved beyond a tentative recovery phase into a more established expansion.
Cumulative growth for 9MFY26 now stands at 6.48 percent, broadly in line with full-year expectations, and marks the first time since FY22 that nine-month LSM readings are firmly in positive territory.
The index dynamics are equally telling. March recorded the second highest monthly index level on record, while the July to March cumulative index is also the second best ever, both trailing only FY22.
The comparison, however, highlights the scale of the earlier peak. The gap with FY22 remains wide at roughly 28 points, making any catch-up mathematically improbable.
