The composite index of Leading Economic Indicators was down 0.2% in January following a 0.3% drop in December, first reported as a 0.2% decrease, the Conference Board reported Thursday.
The coincident index gained 0.3% in January after an unrevised 0.1% rise in December, while the lagging index grew 0.1% after an unrevised 0.2% rise in December.
The LEI stands at 123.2, the coincident index is at 113.2 and the lagging index is at 120.0 The LEI has a baseline of 100, which reflects the level in 2010.
"The U.S. LEI fell slightly in January, driven primarily by large declines in stock prices and further weakness in initial claims for unemployment insurance," said Ataman Ozyildirim, director of business cycles and growth research at The Conference Board. "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."
Economists polled by Thomson Reuters predicted LEI would slip 0.2% in the month.
