The Conference Board announced on Thursday its Leading Economic Index (LEI) for the U.S. dropped 0.3 percent m-o-m in December to 111.2 (2016 = 100), following a revised 0.1 percent m-o-m gain in November (originally unchanged m-o-m).

Economists had forecast a decline of 0.2 percent m-o-m.

Ataman Ozyildirim, Senior Director of Economic Research at The Conference Board, noted: "The US LEI declined slightly in December, driven by large negative contributions from rising unemployment insurance claims and a drop in housing permits. The LEI has now declined in four out of the last five months. Its six-month growth rate turned slightly more negative in the final quarter of 2019, with the manufacturing indicators pointing to continued weakness in the sector. However, financial conditions and consumers' outlook for the economy remain positive, which should support growth of about 2 percent through early 2020."

The report also revealed the Conference Board Coincident Economic Index (CEI) for the U.S. edged up 0.1 percent in December to 107.2, following a 0.3 percent advance in November. Meanwhile, its Lagging Economic Index (LAG) for the U.S. fell 0.1 percent in December to 108.8, following a 0.4 percent rise in November.