Markit Economics released its manufacturing purchasing managers' index (PMI) for Spain on Wednesday. Spain's manufacturing purchasing managers' index (PMI) slid to 51.8 in May from 53.5 in April. It was the lowest level since October 2015.

The decrease was mainly driven by a slower growth in output, new orders and employment.

"The Spanish manufacturing sector moved closer to stagnation in May, according to the latest PMI release, suggesting that the current period of expansion could be coming to an end," a senior economist at Markit Andrew Harker said.