The Conference Board released its leading economic index (LEI) for the U.S. on Thursday. The leading economic index rose 0.2% in March, missing expectations for a 0.4% increase, after a 0.1% decline in February. February's figure was revised down from a 0.1%.

The coincident economic index was flat in March, after a 0.1% gain in February.

"With the March gain, the U.S. LEI's six-month growth rate improved slightly but still points to slow, although not slowing, growth in the coming quarters. Rebounding stock prices were offset by a decline in housing permits, but nonetheless there were widespread gains among the leading indicators," director of business cycles and growth research at The Conference Board, Ataman Ozyildirim, said.

"Financial conditions, as well as expected improvements in manufacturing, should support a modest growth environment in 2016," he added.