The latest survey by the Confederation of British Industry (CBI) showed on Tuesday the UK manufacturers’ order books remained below normal in August, but to a lesser extent than in July.

According to the report, the CBI's monthly factory order book balance increased to -13 in August from -34 in the previous month. That was the highest reading since May and in line with the long-run average. Economists had expected the reading to increase to -23.

According to the report, present stocks of finished goods were reported as above adequate, but were roughly in line with the long-run average.

The survey also revealed manufacturers expect to keep output prices in the next three months broadly unchanged, - the lowest balance since February 2016.