Consumer confidence has dropped but Hispanics between 18-34 are most optimistic about their financial situation compared to those in the 35-54-year-old age group and those over 55.
According to the latest index from the Florida Atlantic University Business and Economics Polling Initiative, this perception, along with increasing concerns over their level of debt, rising gas prices and interest rate hikes, may explain why only 51 percent said they think it is a good time to buy a house (down from 59 percent in the first quarter), and only 49 percent said it is a good time to buy a car (down from 62 percent.
Overall, the Hispanic Consumer Sentiment Index found 56 percent of Hispanics indicate that they are financially better off today than a year ago, down 13 points from the first quarter of 2018.
The poll, taken from April through June, stands at 86.4, down more than 12 points from the first quarter of 2018 when the Index stood at 98.9, which was the highest score since the index went to a quarterly count in January 2017.
The percentage of Hispanics who indicated they will be better off a year from now dropped six points to 72 percent in the second quarter.
The random polling sample consisted of 850 Hispanics, 18 years of age and older, with a margin of error of +/- 4.0 percent.
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