A measure of consumer confidence continues to decline on less upbeat expectations for business and labor conditions.

The Conference Board reported its Consumer Confidence Index fell 3.1 points to 102.9 in February.

A component of the CCI based on assessments of current conditions climbed 1.7 points to 152.8 But a component based on the short-term outlook fell 6.3 points to 69.7. The reading has remained below 80 for 11 of the last 12 months, a level that often signals a recession within the next year.

“The outlook appears considerably more pessimistic,” said Atman Ozyildirim, senior director of economics at the Conference Board. “Expectations for where jobs, incomes and business conditions are headed over the next six months all fell sharply in February.”

Although expectations for higher inflation retreated, fewer consumer reported plans to purchase homes, cars and major appliances, Ozyildirim said. “Consumers may be showing early signs of pulling back spending in the face of high prices and rising interest rates.”

The proportion of consumers responding to the survey upon which the February index was based who characterized business conditions as “good” fell 2.1 points to 17.8 percent. The share of those who called conditions “bad” also fell — 1.3 points to 17.7 percent.

The proportion of respondents who said jobs were “plentiful” rose 3.9 points to 52 percent. The share of those who said jobs were “hard to get” fell six-tenths of a point to 10.5 percent.

The share of survey respondents who said they expect business conditions to improve over the next six months dropped 4.2 points to 14.2 percent. The proportion of those anticipating worsening conditions fell seven-tenths of a point 21.9 percent.

The share of those who expected more jobs to become available declined 3.2 points to 14.5 percent. The proportion of those anticipating fewer jobs fell 1.1 points to 20.3 percent.

While 13.4 percent of consumers said they expected their incomes to increase, 11.6 percent anticipated decreased incomes.