The Confederation of British Industry (CBI) released its industrial order books balance on Thursday. The CBI industrial order books balance fell to +4% in January from +5% in December.

Analysts expected the CBI industrial order books balance to remain unchanged at +5%.

British factories expect a decline in exports orders in the next three months, the CBI said.

The CBI's director for economics Rain Newton-Smith said that British manufacturers are on the right track.