US leading economic index slips more than expected

The Conference Board’s leading economic index slipped 0.2% in December to 123.7 following a 0.5% rise the two previous months, led by a decline in housing permits and weak new orders in manufacturing.

This was a touch softer than economists’ expectations for a 0.1% drop.

Still, Ataman Ozyildirim, director of Business Cycles and Growth Research at The Conference Board, said. “The index continues to suggest moderate growth in the near-term despite the economy losing some momentum at the end of 2015.

“While the LEI’s growth rate has been on the decline, it’s too early to interpret this as a substantial rise in the risk of recession.”