The Conference Board released its leading economic index for the U.S. on Thursday. The leading economic index climbed by 0.2% in January, after a 0.4% increase in December.

December's figure was revised down from a 0.6% gain.

The Conference Board economist Ataman Ozyildirim said that "the lack of strong momentum in residential construction, along with a weak outlook for new orders in manufacturing, poses a downside risk for the U.S. economy".

He noted that the index grew moderately in recent months.