Spain’s industrial production rose 0.6% YoY in April on a seasonally and calendar-adjusted basis, but fell -0.8% MoM, signaling a softening in momentum.

• The unadjusted YoY rate dropped sharply to -5.7%, down from +8.5% in March.
• Durable consumer goods rose 1.5% YoY, the highest among sectors; non-durables rose 0.8% YoY.
• Capital goods, intermediate goods, and energy all posted 0.6% YoY gains on an adjusted basis.
• Energy production led monthly declines at -5.5% MoM, while non-durable consumer goods rose 0.7% MoM.