The Conference Board released its leading economic index (LEI) for the U.S. on Friday. The leading economic index fell 0.2% in December, missing expectations for a 0.1% decrease, after a 0.5% rise in November. November's figure was revised up from a 0.4% increase.

The coincident economic index rose 0.1% in December, after a 0.1% gain in November.

"The U.S. LEI fell slightly in December, led by a drop in housing permits and weak new orders in manufacturing. However, 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," director of business cycles and growth research at The Conference Board, Ataman Ozyildirim, said.