FX.co ★ Singapore's Industrial Production Plummets by 9.2% in March 2024

Singapore's industrial production took a sharp downturn in March 2024, with a significant decrease of 9.2% compared to the same month a year ago. This substantial drop comes after the previous indicator had shown a positive growth rate of 4.4% in February 2024, indicating a stark reversal in the country's industrial output. The data was updated on 26 April 2024, highlighting the recent challenge faced by Singapore's manufacturing sector. The year-over-year comparison illustrates the severity of the decline, raising concerns about the impact on the overall economy and the need for measures to support industrial activities in the country.