March factory output beats forecasts with 5.9% gain

Singapore

SINGAPORE'S factory output grew 5.9 per cent in March compared to a year ago, just above economists' predictions of a 5.7 per cent rise, according to preliminary Economic Development Board (EDB) figures yesterday.

Economists held steady on their gross domestic product (GDP) estimates for the first quarter, while expecting manufacturing to slow down in the coming months.

Excluding biomedical manufacturing, which tends to be volatile, output grew 8.6 per cent year on year.

But on a seasonally adjusted basis, manufacturing output edged up just 0.3 per cent in March compared to February, and fell 4.3 per cent excluding biomedical manufacturing.

The March figure of 5.9 per cent year-on-year growth also …