Markit Economics released services purchasing managers' index (PMI) for Spain on Friday. Spain's services purchasing managers' index (PMI) was up to 55.4 in May from 55.1 in April.

The rise was driven by a faster growth in in new orders, output and input cost inflation.

"Following on from Wednesday's disappointing Spain manufacturing PMI numbers, the latest services data are something of a relief, with growth in activity and new business ticking up slightly," Senior Economist at Markit Andrew Harker said.