The latest survey by the Confederation of British Industry (CBI) showed on Friday the UK manufacturers’ order book balance dropped to -5 in April from +1 in the previous month. Economists had expected an increase to +3. That was the lowest reading since October 2018.

According to the report, the gauge measuring output expectations over the next three months dropped to -2 last month from +7 in March export orders declined to -5 from +8 and stocks of finished goods decreased to +9 from +11. In addition, expectations for price inflation in the next three months slowed to +1 from +7 in March.