Friday, Singapore's Economic Development Board or EDB announced that the industrial production dropped 33.9% year-over-year in March, compared with a 15.1% fall in February, revised from 22.4% fall reported initially. Economists had predicted a decline of 24%.
On a monthly basis, industrial production declined a seasonally adjusted 13.9% in March. Economists expected a decline of 0.3%.
For the January to March period, industrial production decreased 26.1% compared to the same period of the previous year.
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