Investing.com - U.K. industrial order expectations deteriorated to the worst level in 11-months in September, dampening optimism over the country’s economic outlook, industry data showed on Thursday.
In a report, the Confederation of British Industry said its index of industrial order expectations decreased by 15.0 points to a reading of minus 4.0 this month from August’s reading of 11.0.
Analysts had expected the index to decline by 2.0 points to 9.0 in September.
On the index, a reading above 0.0 indicates increasing order volume is expected, below indicates expectations are for lower volume.
Katja Hall, CBI Director-General, said, "Against a backdrop of acute political uncertainty at home and abroad, exports orders for U.K. manufacturers are faltering, which is disappointing."
GBP/USD was trading at 1.6308 from around 1.6314 ahead of the release of the data, while EUR/GBP was at 0.7895 from 0.7890 earlier.
Meanwhile, European stock markets remained higher. London’s FTSE 100 tacked on 0.55%, the DJ Euro Stoxx 50 advanced 0.8%, France's CAC 40 inched up 0.75%, while Germany's DAX rose 0.95%.