The Conference Board Leading Economic Index for the United States declined 0.1 percent in January, according to preliminary estimates, to 111.3, following no change in December and a 0.1 percent increase in November.

The results indicate a slowing of U.S. economic growth, especially toward the end of the year.

“Based on preliminary data, the US LEI declined very slightly in January and December’s decline was revised up to no change,” Ataman Ozyildirim, the organization’s director of economic research said in a statement announcing the results. “In January, the strengths in the financial components were offset by the weaknesses in the labor market components. The US LEI has now been flat essentially since October 2018. The Conference Board forecasts that US GDP growth will likely decelerate to about 2 percent by the end of 2019.”