The Confederation of British Industry (CBI) released its industrial order books balance on Friday. The CBI industrial order books balance rose to -8 in May from -11 in April, beating expectations for a decline to -13.

Total orders increased slightly in May, while exports orders were largely unchanged.

"Conditions in the manufacturing sector seem to be a little better overall, with improving order books compared with a couple of months ago. But domestic and global uncertainty remains high, alongside lacklustre export demand," the CBI director of economics Rain Newton-Smith said.

"Despite recent choppiness in emerging markets, China and India remain significant sources of potential demand," she added.