British construction output contracted in March for the third month in a row, a survey showed on Wednesday, suggesting the sector will have weighed on economic growth in the first quarter. The Markit/CIPS Construction Purchasing Managers' Index (PMI) inched up to 47.2 from 46.8 in February, holding below the 50 level that separates expansion from contraction and slightly undershooting forecasts for 47.5. Markit, which compiles the survey, said that unusually cold weather combined with sluggish underlying demand kept a lid on construction work in March. "The negative print for construction output mirrors that seen ... (full story)