Markit Economics released services purchasing managers' index (PMI) for Spain on Thursday. Spain's services purchasing managers' index (PMI) fell to 54.1 in February from 54.6 in January. It was the lowest level since November 2014.

The decline was driven by a slower growth in new business. Political uncertainty also weighed on the index.

"While the latest set of PMI data for Spanish services companies paint a broadly positive picture of the state of the sector, there are some headwinds which appear to be limiting the scope for growth," Senior Economist at Markit Andrew Harker said.