Leading indicators point to further weakness

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NEW YORK (CNNMoney.com) -- An indicator of the economy's future performance fell for the fourth straight month in January, according to a report released Thursday by the Conference Board.

The Conference Board's index of leading U.S. economic indicators fell 0.1% to 135.8 last month, matching the 0.1% decline logged in December. The decline was in line with economists' expectations, according to Briefing.com.

Falling stock prices, along with a drop in housing permits, contributed to the slip. However, money supply, lower-than-expected unemployment and positive consumer expectations helped keep the decline in check.

Positive measurements have not been strong enough to fully offset the negative ones, said Ataman Ozyildirim, an economist at the Conference Board, a business research group.

"There's not much momentum in the economy," he said.

A 0.1% decrease is slight, according to Ozyildirim, but the weakness in January comes amid a string of monthly declines.

The index of leading indicators, which is designed to signal turning points in the business cycle, has fallen 2% in the six months through January.

According to the group, current index measurements show the U.S. economy at greater risk of economic weakness. The group also said slow growth will persist over the next few months.