WASHINGTON, (Reuters) – U.S. consumer confidence fell in April. However, households plan to purchase automobiles and other appliances. This should support consumer spending during the second quarter.

On Tuesday, the Conference Board reported that its consumer confidence index fell to 107.3 from 107.6 in March. This is a slight upwardly revised reading. Reuters polled economists and predicted that the index would rise to 108.0, from 107.2 as originally reported in March.

Lynn Franco (senior director of economic indicators, The Conference Board in Washington) stated, “The Present Situation Index decreased, but still remains very high. This indicates that the economy continued expanding in early 2002.” “Expectations were not affected by high gas prices and the conflict in Ukraine, but they are still low. While vacation intentions declined, intentions to purchase large-ticket items such as automobiles and other appliances increased.