A report released by the Conference Board on Thursday showing that its index of leading U.S. economic indicators unexpectedly came in flat in the month of November.
The Conference Board said its leading economic index came in unchanged in November after inching up by 0.1 percent in October. Economists had expected the index to rise by 0.2 percent.
Ataman Ozyildirim, Director of Business Cycles and Growth Research at the Conference Board, noted the leading index continued on an upward trend through 2016, although at a moderate pace of growth.
"The underlying trends in the LEI suggest that the economy will continue expanding into the first half of 2017, but it's unlikely to considerably accelerate," said Ozyildirim.
He added, "Although the industrial and construction indicators held the U.S. LEI back in November, the weakness was offset by improvements in the interest rate spread, initial unemployment insurance claims, and stock prices."
The report also said the coincident economic index ticked up by 0.1 percent in November after rising by 0.2 percent in October, while the lagging economic index rose by 0.3 percent following a 0.2 percent increase in the previous month.
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