Mubasher: UK construction sector’s activity cooled more than expected in March, marking the biggest drop since July 2016 and dipping below the 50 level for the first time in six months.

Construction Purchasing Managers Index (PMI) registered 47 last month, down from 51.4 in February, data by IHS Markit showed on Wednesday.

Economists had expected a much slighter decrease to 50.9 during March.

The overall reduction in construction output came as civil engineering work posted the sharpest fall in five year last month, while Business activity slowed due to bad weather and input inflation softened to a 20-month low.

By 08:58 am GMT, the GBP/USD pair climbed 0.14% to $1.4076.