Markit Economics released final services purchasing managers' index (PMI) for Spain on Wednesday. Spain's final services purchasing managers' index (PMI) climbed to 59.7 in July from 56.1 in June.

"Improvements in the labour market have been the key feature of this month's PMI surveys, with the combined rise in employment across manufacturing and services the strongest since early-2007. We can therefore expect to see further reductions in the unemployment rate in coming months, with this hopefully feeding through into improving demand," Senior Economist at Markit Andrew Harker said.