Economic Report: Consumer confidence slips in April, but Americans aren’t cutting back on spending


The numbers: A survey of consumer confidence dipped in April to 107.3 from 107.6, but Americans signaled they are optimistic enough about the economy to keep buying big-ticket items such as news cars and appliances.

Economists polled by The Wall Street Journal had forecast the index to total 108.5.

Key details: A measure of how consumers feel about the economy right now slid to 152.6 from from an eight-month high of 153.8 in the prior month, The Conference Board said Tuesday.

Yet a similar gauge that looks ahead six months rose to 77.2 from 76.7.

Market reaction: In early trades, the Dow Jones Industrial Average

and S&P 500

fell in Tuesday trades.

Stocks have pulled back recently due to signals from the Federal Reserve that it plans to raise interest rates rapidly to try to tame inflation.

Economic Report: Durable goods orders snap back in March and so does U.S. business investment

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