The seasonally adjusted Milwaukee Report on Business slid to 52.8 in January from 54.3 in December, the Institute for Supply Management-Milwaukee reported Thursday.
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New orders received dropped to 49.5 from 56.0, production gained to 59.6 from 55.6, employment decreased to 53.5 from 58.8, supplier deliveries slumped to 53.7 from 58.1, and backlog of orders grew to 45.5 from 42.9.
Inventory levels increased to 47.8 from 42.9, customers' inventories rose to 45.2 from 42.1, prices grew to 65.2 from 59.5, exports held at 50.0 and imports dipped to 52.9 from 53.3.
The blue collar diffusion index increased to 55.7 from 53.7, while the white collar diffusion index slid to 49.0 from 56.3.
