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BW Businessworld

Singapore Manufacturing Unexpectedly Surges In March, Fueled By Pharma Output

Industrial production rose 21.7% in March, data from the Singapore Economic Development Board showed.

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Singapore's industrial output rose 16.5% in March on a year-on-year basis, surging past expectations, as pharmaceutical production more than doubled, data showed on Friday.

The median of six economists forecasts was for a 6.3% drop.

On a month-on-month and seasonally adjusted basis, industrial production rose 21.7% in March, data from the Singapore Economic Development Board showed. Economists had expected a 2% fall.

(Reuters)