A general view of factories in the industrial district of Jurong in western Singapore (Reuters)

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Pharma fuels unexpected jump in Singapore manufacturing in March

Singapore’s factory output in March rose at its fastest pace in more than nine years, surging past expectations, as pharmaceutical manufacturing more than doubled, data showed on Friday.

migrator

Updated:24th Apr, 2020 at 4:11 PM

Singapore

Output rose 21.7% on a month-on-month and seasonally adjusted basis, data from the Singapore Economic Development Board showed, the biggest jump since January 2011. The median of six economists’ forecasts was for a 2% fall.

On a year-on-year basis, output rose 16.5% - the biggest increase since January 2018 - and was well above expectations for a 6.3% drop.

Pharmaceutical output increased 126.6% year-on-year, with higher production of active pharmaceutical ingredients and biological products. Shipments of pharmaceuticals pushed Singapore’s annual exports up 17.6% in March, data last week showed.

Pharma fuels unexpected jump in Singapore manufacturing in March

Singapore’s factory output in March rose at its fastest pace in more than nine years, surging past expectations, as pharmaceutical manufacturing more than doubled, data showed on Friday.

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