Singapore manufacturing unexpectedly surges in March, fueled by pharma outputSingapore manufacturing unexpectedly surges in March, fueled by pharma output
A general view of factories in the industrial district of Jurong in western Singapore

SINGAPORE (Reuters) – 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.

(Reporting by Aradhana Aravindan and John Geddie in Singapore; Editing by Kim Coghill)