Manufacturing activity in southeastern Wisconsin and northern Illinois continued to grow more slowly in February, according to a new report.
The Marquette-ISM Report on Manufacturing showed the seasonally adjusted Purchasing Managers Index was at 50.32 in February, down from 51.60 in January.
Any number more than 50 indicates growth, while less than 50 signals contraction. The PMI has measured more than 50 for 16 of the past 18 months.
In the February survey, respondents said:
- January was a slow month for some companies.
- Companies are continuing to anticipate an economic bounce.
Employment, customers’ inventories and exports grew in February. New orders, production, supplier deliveries, inventories, prices, backlog of orders and imports all either declined or slowed their growth.
Regarding these indices, respondents said:
- Increased volumes of orders and weather conditions at the East ports are impacting the ability to deliver on time and accept near-term orders. There have also been West Port congestion problems.
- Companies have been limited on accepting near-term orders.
- Companies are currently experiencing a lull before the spring orders come in for summer installs.
Seasonally adjusted blue collar employment declined from 57.3 in January to 46.5 in February, while seasonally adjusted white collar employment grew from 45.8 in January to 58.1 in February.
In the six-month outlook on business conditions, respondents indicated a downward shift in positive expectations compared with January. About 33.3 percent of respondents expect positive conditions over the next six months, 53.3 percent expect conditions to remain the same and 13.3 percent expect conditions to worsen within the next six months.
