UK CBI factory orders slightly better than expected in Sept

British manufacturing orders fell slightly less than expected and firms became more optimistic about future output in September, a survey showed on Thursday. The Confederation of British Industry's Industrial Trends survey's order book balance rose to -48 from -54 in August. That was the highest since January and compared with analysts' forecast of a reading of -50.

The output expectations balance rose to -2 from -5, the highest since June 2008.

"The end of the dramatic destocking that characterised the first half of the year has allowed manufacturing output to stabilise, but order books remain depressed and the outlook uncertain," said Ian McCafferty, chief economic adviser at the CBI.