The latest survey by the Confederation of British Industry (CBI) showed on Tuesday the UK manufacturers’ order books fell in October to the lowest level since March 2010.

According to the report, the CBI's monthly factory order book balance decreased to -37 in October from -28 in the previous month. Economists had expected the reading to stay at -28.

According to the report, export order book gauge dropped to -41 from -32 in September, while the index of stocks of finished goods declined to +11 from +28 and the measure of the manufacturers’ output expectations in the next three months remained subdued at -16 compared to -19 in September.

The survey also revealed that the share of manufacturers citing political/economic conditions abroad as a factor to limit export orders in the next three months was at a survey record high (66%).