The Conference Board released its leading economic index (LEI) for the U.S. on Thursday. The leading economic index fell 0.2% in January, missing expectations for a 0.2% decrease, after a 0.3% decline in December. December's figure was revised down from a 0.2% fall.

The coincident economic index rose 0.3% in January, after a 0.1% gain in December.

"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. 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," director of business cycles and growth research at The Conference Board, Ataman Ozyildirim, said.