No, it is an ad hoc coinage of an adverb, using the suffix -wise (= 'ways'). Making words with it is an easy escape from finding a more careful way to phrase it. From the Am Heritage Dictionary: Usage Note : The suffix -wise has a long history of use to mean "in the manner or direction of," as in clockwise, otherwise, and slantwise.
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Usage Note: The suffix -wise has a long history of use to mean "in the manner or direction of," as in clockwise, otherwise, and slantwise. Sinc