Markit Economics released final services purchasing managers' index (PMI) for Spain on Wednesday. Spain's final services purchasing managers' index (PMI) increased to 55.9 in October from 55.1 in September.

The index was driven by an increase in activity and new business.

"The slight pick-up in growth rates of activity and new business was a positive from the latest services PMI survey as it broke the recent momentum of slowing rates of expansion, and provides optimism that solid increases can be recorded during the remainder of the year," Senior Economist at Markit Andrew Harker said.