Spain’s industrial production rose 0.9% MoM and 1.0% YoY in March, up from a -1.9% YoY decline in February.

• The unadjusted YoY growth surged to 8.5%, up from -2.4% YoY in February.
• Energy output led with a 6.8% YoY and 3.2% MoM increase (adjusted).
• Intermediate goods rose 1.1% YoY, while capital goods ticked up just 0.1% YoY.
• All sectors saw MoM gains, but consumer goods overall were down -1.7% YoY.
• Consumer non-durables declined -1.2% YoY and rose just 0.1% MoM; durables were flat YoY.