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

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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
DJIA,
-0.66%

and S&P 500
SPX,
-1.16%

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.

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