The Confederation of British Industry (CBI) released its industrial order books balance on Monday. The CBI industrial order books balance rose to -11 in April from -14 in March, beating expectations for a decline to -15.

"Manufacturing has yet to pick-up after a flat start to the year, with falling orders providing little impetus for production. While expectations for the upcoming quarter are encouraging, manufacturers are still facing sizeable external headwinds," the CBI director of economics Rain Newton-Smith said.

"The falling exchange rate should give some support to manufacturers, and investment intentions are strong," she added.