FAU Poll: Hispanic Consumer Confidence Rises as Inflation Eases
Hispanic consumers were more optimistic in the second quarter of 2023, exhibiting a more positive outlook toward the economy in the year ahead.
Hispanic consumers were more optimistic in the second quarter of 2023, exhibiting a more positive outlook toward the economy in the year ahead, according to a new poll from the Florida Atlantic University Business and Economic Polling Initiative (FAU BEPI).
The Hispanic Consumer Sentiment Index (HCSI) rose three points to 83.4 in the second quarter of 2023, up from 80.2 in the first quarter of the year. Optimism rose in three out of five questions used to generate the HCSI.
About 51 percent of Hispanics said they believe that the country overall will experience good business conditions in the second quarter of this year, up from 47 percent in the first quarter poll. The number was down from the last quarter of 2022, when 56 percent of Hispanics were optimistic on the short-run economic outlook.
Regarding the long-run economic outlook for the country, 54 percent of Hispanics were more optimistic in the second quarter, compared to 50 percent of Hispanics in the first quarter of 2023. In the last quarter of 2022, 53 percent of Hispanics were more optimistic.
For large purchases such as a refrigerator or a television, 45 percent of Hispanics believed it was a good time to buy in the second quarter of 2023, up from 37 percent of Hispanics in the first quarter.
Two questions saw a decline in optimism or no change: 72 percent of Hispanics said that they would be better off financially in the next year, down from 76 percent in the first quarter; 54 percent of Hispanics said that they were better off financially now than a year ago, remaining the same as in the previous quarter.
“Overall, the upswing in optimism reflects a recovery in attitudes generated by the early-month resolution of the debt ceiling crisis, along with more positive feelings over softening inflation,” said Monica Escaleras, Ph.D., director of FAU BEPI in the College of Business. “Views of their own personal financial situation were unchanged, however, as persistent high prices and expenses continued to weigh on consumers.”
The survey was conducted between April 1 and June 30, polling a sample of Hispanic adults. The margin of error is +/-4.68 percentage points. It was administered using both landlines via IVR data collection and online data collection using Dynata. Responses for the entire sample were weighted to reflect the national distribution of the Hispanic population by region, education, gender, age and income according to latest American Community Survey data. The results and full cross-tabulations can are here.
-FAU-
Latest Research
- FAU Secures $21M Promise Neighborhoods Grant for Broward UPFAU has received the largest grant in its history from the U.S. Department of Education. Broward UP aims to transform poverty-concentrated neighborhoods in Broward County into communities of opportunity.
- Report: Logistics Industry Score Dips Heading into New YearThe logistics industry ended the year with a slight decrease in growth as retailers burned through inventory for the holiday season, according to researchers at FAU and four other schools.
- Firms Use Earnings Guidance to Mitigate Complexity of ESG DisclosuresCompanies in the U.S are turning to voluntary earnings guidance to prevent confusion resulting from ESG disclosures, according to a new study from researchers at FAU and another school.
- FAU Launches 'Center for Integrated Recovery and Wellness Studies'The new center launched by FAU's College of Social Work and Criminal Justice will advance substance use recovery research and promote community partnerships.
- 'Ding-Dong:' A Study Finds Specific Neurons With an Immune DoorbellFAU neuroscientists have identified that the receptor IL-1R1 plays a critical role in enabling neurons to directly communicate with the immune system.
- Qigong Significantly Decreases Chronic Low Back Pain in U.S. VeteransFAU researchers explored qigong, a Chinese practice combining gentle movements, breathing, and meditation, and assessed its impact on biopsychosocial outcomes on veterans with chronic low back pain.