The index of leading U.S. economic indicators decreased 0.3 per cent in January, a private research institute said Thursday. The New York-based Conference Board said the index, which predicts economic activity in the next three to six months, declined to 115.6 last month after two-straight months of increases. However, the index has also been flat over the past half-year, lagging behind its long-term trend of a 1.5-per-cent annual growth rate. The board said the reasons for January's slightly higher-than- expected decline were vendor performance, the index of consumer expectations, stock prices, the interest-rate spread and manufacturers' order for consumer goods and materials. Meanwhile, the number of Americans filing first-time claims for unemployment insurance dropped to 302,000 last week, the lowest level in more than four years. --SP 0033 Local Time 2133 GMT
