Markit Economics released its manufacturing purchasing managers' index (PMI) for Spain on Friday. Spain's manufacturing purchasing managers' index (PMI) declined to 53.4 in March from 54.1 in February.

The decrease was driven by a slower growth in output and new orders, while input costs dropped.

"Although growth in the Spanish manufacturing sector has slowed from the start of the year, the latest monthly improvements in output and new orders were still respectable and there is little sign at this stage of a move towards stagnation," a senior economist at Markit Andrew Harker said.