A Florida Atlantic University Business and Economic Survey (FAU BEPI) indicates that in the face of moderation in the rise in consumer prices, Hispanics in the United States feel more optimistic about their financial situation and the economy.
The publication indicates that the Hispanic Consumer Sentiment Index rose from 74.3 in the third quarter to 85.3 in the fourth quarter, which means only one point less than the previous year.
The survey was based on a sample of 466 Hispanic adults, from October 1 to December 31, 2022, and indicates that in the fourth quarter, 56% responded that they are better off from an economic point of view compared to the year previous quarter, which represents a 44% increase when compared to the third quarter.
In the interval, 72% of Hispanics say they expect to be better off financially in 2023, compared to 66% in the third quarter.
Regarding the short-term economic outlook, 56% of the participants responded that they expect the country to go through a good business period next year; This percentage is higher than the 44% registered in the third quarter.
“This percentage of optimism is due to the fact that salaries have increased and inflation is gradually easing,” commented Mónica Escaleras, Ph.D., Director of FAU BEPI at the School of Business.
The inflation report of 6.5% year-on-year in December was the sixth consecutive month of the year with falling figures, according to official data from the United States government.
Regarding the long-term economic outlook for Hispanics, 53% expect the country to go through a period of good business conditions in the next five years. This percentage remained stable in relation to the third quarter.
“Hispanics are more optimistic about buying high-cost items, with 45% saying it’s a good time to do so, compared to 40% in the third quarter. Despite the high interest rates on mortgage loans, 37% said it is a good time to buy a home, an increase from 26% in the third quarter.
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