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U.S. leading economic indicator unexpectedly falls in January

18 February 2022 21:13 (UTC +04:00)

A gauge of future U.S. economic activity fell in January for the first time in nearly a year amid a resurgence in COVID-19 cases, high inflation and supply chain disruptions, supporting expectations that growth would slow in the first quarter, APA reports citing Reuters.

The Conference Board said on Friday its Leading Economic Index dropped 0.3% last month, the first decline since February 2021, after increasing 0.7% in December. Economists polled by Reuters had expected the index to rise 0.2%.

Gross domestic product estimates for the first quarter are mostly below a 2.0% annualized rate. The economy grew at a 6.9% pace in the fourth quarter.