The Conference Board Leading Economic Index for the United States declined 0.1 percent in December to 111.7, following a 0.2 percent increase in November, and a 0.3 percent decline in October.

The latest results indicate that the U.S. economic growth rate may slow this year, according to The Conference Board.

The latest report does not include some recent government data due to the government shutdown, the group said.

“While the effects of the government shutdown are not yet reflected here, the LEI suggests that the economy could decelerate towards 2 percent growth by the end of 2019,” Ataman Ozyildirim, The Conference Board’s director of economic research said in a statement announcing the December results.