US leading indicators fall in line with estimates

The US Conference Board’s leading economic indicators fell as expected in January.

The index was down 0.2% to 123.2, in line with consensus forecasts and following a 0.3% decrease in December and a 0.5% increase in November.

The slight fall was driven primarily by large declines in stock prices and further weakness in initial claims for unemployment insurance, said Ataman Ozyildirim, the Conference Board's director of business cycles and growth research.

“Despite back-to-back monthly declines, the index doesn’t signal a significant increase in the risk of recession, and its six-month growth rate remains consistent with a modest economic expansion through early 2016."