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The seasonally adjusted Milwaukee Report on Business decreased to 55.09 in February from 58.78 in January, the Institute for Supply Management-Milwaukee reported Thursday.
New orders received slid to 42.52 from 44.16, production fell to 55.31 from 57.84, employment dropped to 49.80 from 56.32, supplier deliveries declined to 65.30 from 74.04, and backlog of orders gained to 46.43 from 36.36.
Inventory levels rose to 62.50 from 61.54, customers’ inventories grew to 46.43 from 36.36, prices slid to 68.75 from 69.23, exports increased to 45.45 from 38.89, and imports fell to 61.11 from 68.75.
The blue collar diffusion index dropped to 49.8 from 56.3, while the white collar diffusion index slipped to 52.9 from 56.3.
