A measure of consumer confidence has declined for two months in a row on less upbeat expectations for business and labor conditions.

The Conference Board reported its Consumer Confidence Index decreased six-tenths of a point to 110.5 in February. A component of the index tracking current conditions increased. But a component tracking the short-term outlook dropped.

“Expectations about short-term growth prospects weakened further, pointing to a likely moderation in growth over the first half of 2022,” said Lynn Franco, senior director of economic indicators at the Conference Board. “Meanwhile, the proportion of consumers planning to purchase homes, automobiles, major appliances and vacations over the next six months all fell.”

The New York-based think tank bases the index on the results of monthly household surveys. Economists monitor the index because consumer spending accounts for more than two-thirds of economic activity.”

More optimistic assessments of current conditions pushed up the present situation component of the index six-tenths of a point to 145.1.

The proportion of consumers responding to the survey upon which the index was based who said business conditions were “good” fell 1.3 points to 18.7 percent. But the share of those who said conditions were “bad” fell more — 2.7 points to 24.7 percent.

The proportion of consumers who said jobs were “plentiful” fell 1.2 points to 53.8 percent. The share of those said jobs were “hard to get” slipped two-tenths of a point to 11.8 percent.

Less upbeat outlooks for the next six months puled down the expectations component of the index  1.3 points to 87.5.

The share of consumers who said they expect business conditions to improve edged down two-tenths of a point to 23.4 percent. The proportion of those who anticipated worsening conditions fell 1.6 points to 18.1 percent.

The share of those who expect more jobs to become available in the months ahead fell eight-tenths of a point to 21.3 percent. The proportion of those who anticipated fewer jobs increased 1.3 points to 17.9 percent.

While 15.7 percent of consumers said they expected their incomes to increase —down a half point — 12.1 percent said they expected their incomes to decrease. That’s unchanged from last month.