Singapore's industrial production decreased at a significantly slower rate in March, but the rate of fall exceeded economists' forecast, latest data showed Friday.
Industrial production declined 4.1 percent on an annual basis in March, notably slower than the revised 16.3 percent decrease seen in February, media reports said citing the Economic Development Board.
Economists had forecast output to drop 3 percent in March, following the previous month's originally reported 16.6 percent fall.
Sequentially, industrial production increased a seasonally adjusted 6.2 percent, reversing February's 0.6 percent decline, which was revised up from 0.7 percent. Production was forecast to rise 7.1 percent month-on-month.
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