Markit Economics released its manufacturing purchasing managers' index (PMI) for Spain on Tuesday. Spain's manufacturing purchasing managers' index (PMI) declined to 54.1 in February from 55.4 in January.

The decrease was driven by a slower growth in output, while input costs fell.

"Spanish manufacturers continued to rise above economic and political uncertainty in February, once again increasing output at a rapid rate and taking on extra staff at the fastest pace since the summer of 2015," a senior economist at Markit Andrew Harker said.