The Conference Board’s US leading economic index edged down in December but continues to suggest moderate growth in the near-term. The index fell 0.2% in December to a reading of 123.7 (2010 = 100), following increases of 0.5% in both November and October.

“The US [leading economic index] fell slightly in December, led by a drop in housing permits and weak new orders in manufacturing,” said Ataman Ozyildirim, director of business cycles and growth research at The Conference Board. “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 [leading economic index’s] growth rate has been on the decline, it’s too early to interpret this as a substantial rise in the risk of recession.”