The seasonally adjusted Milwaukee Report on Business slid to a contractionary 48.6 in February from 52.8 in January, the Institute for Supply Management-Milwaukee reported Thursday.
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New orders received dropped to 41.6 from 49.5, production fell to 40.6 from 59.6, employment decreased to 51.2 from 53.5, supplier deliveries gained to 61.9 from 53.7, and backlog of orders slid to 42.9 from 45.5.
Inventory levels dipped to 47.7 from 47.8, customers' inventories sank to 34.2 from 45.2, prices declined to 63.6 from 65.2, exports rose to 60.0 from 50.0 and imports slipped to 50.0 from 52.9.
The blue collar diffusion index decreased to 48.9 from 55.7, while the white collar diffusion index rose to 53.4 from 49.0.
