The latest survey by the Confederation of British Industry (CBI) showed on Tuesday the UK manufacturers’ order books declined in May.

According to the report, the CBI's monthly factory order book balance dropped to -10 in May from -5 in the previous month. That was the lowest reading since October 2016. Economists had expected the reading to remain unchanged m-o-m. 

According to the report, stocks of finished goods were the highest since May 2009, following the recent rush to stockpile ahead of the original March 2019 deadline, while export orders (-16) declined at the fastest rate since July 2016.