Miami, July 17 (EFE).- Hispanic consumers were more optimistic about the economy and especially the prospects for 2024, according to a new survey by the Florida Atlantic University Business and Economic Polling Initiative (FAU BEPI).
The Hispanic Consumer Sentiment Index (HCSI) was 83.4 in the second quarter of 2023, up 3.2 points from the first quarter of the year.
Confidence increased in three of the five questions used to construct the HCSI.
About 51% of Hispanics said they believe the country as a whole will enjoy good business conditions in the next quarter, up four points from the first quarter.
However, compared to the last quarter of 2022, there has been a drop of five points.
Regarding the long-term economic outlook, 54% of Hispanics said they were more optimistic in the second quarter, four points higher than the first quarter of 2023 and one point higher than the last quarter of 2022.
For larger purchases like a refrigerator or TV, 45% believed it was a good time to buy, compared to 37% in the first quarter.
In one of the five questions in the survey, there was a decrease in confidence: 72% believed the next year would be better financially, compared with 76% who expressed that opinion in the first quarter.
Additionally, 54% said they were better off financially than they were a year ago, the same percentage as in the previous quarter.
“Overall, the increase in confidence reflects the recovery of sentiment triggered by the resolution of the debt ceiling crisis at the beginning of the month, along with positive sentiments about reducing inflation,” said Mónica Escaleras, director of the business school FAU BEPI.
However, “views about their own financial situation have not changed, with persistently high prices and costs continuing to weigh on consumers.”
The survey sample of Hispanic adults was conducted between April 1 and June 30 and has a margin of error of +/-4.68 percentage points. EFE
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