16.84percent and buses also declined negative to 25.48 percent. During the 10 months of currentfiscal the production of cars and jeeps remained above double digit to 14.49percent and production of those light commercial vehicles and two wheelersshowed positive 22.22 percent and 18.93 percent respectively. FBS data shows that in the month of April
LSM index fell by 11 percent compared with March 2011 mainly due to 18 percent monthon month decline in the Ministry of Industries sub index, which was due to an81 percent fall in sugar production, a seasonal factor.In the remaining two months the LSMgrowth is expected to be only 0.5 percent. Overall performance in the last twomonths is likely to be weighed down by the OCAC sub index, particularly in Juneas lower refinery throughput due to maintenance shutdowns and the omni present circulardebt will curtail refinery output. "Resultantly, we expect the overall FY11 manufacturinggrowth rate to fall below government's revised target of 3 percent which in turn may also result in governments missingthe revised GDP growth estimates of 2.4 percent for FY11", says research reportof IFSL.