HBL PMI manufacturing activity hits highest level since war began

According to Business Recorder, the HBL Pakistan Manufacturing PMI edged up to 51.8 in August 2026 from 51.7 in July, its highest reading since the war started. Expansion remained modest, but underlying demand kept improving, helped by firmer domestic orders and steady growth in exports.

Incoming orders rose at the quickest pace in five months, a gain the report attributes to better product quality and competitive pricing. Export orders increased for a fourth straight month, and manufacturers bought more inputs for a third successive month while adding to stocks ahead of expected demand.

Output expanded at a rate close to July's, but producers stayed cautious about raising production while inflationary pressures lingered. Staffing was largely unchanged as selective hiring was offset by cost controls, and supplier delivery delays eased to their shortest since November 2025. Humaira Qamar, Head of Equities & Research at HBL, said confidence about the next 12 months' output strengthened, though she expects inflation to ease more gradually than earlier anticipated.