UK construction activity contracted in March following five months of marginal growth, survey data from IHS Markit showed Wednesday. The IHS Markit/Chartered Institute of Procurement & Supply construction Purchasing Managers Index fell to 47.0 in March from 51.4 in February. The reading was expected to ease to 51.0. The score fell below the 50.0 no-change threshold for the first time in six months. Moreover, the latest reading signaled the fastest decline in construction output since July 2016.