According to a recent poll by the Florida Atlantic University Business and Economic Polling Initiative, Hispanic consumers’ confidence in the economy decreased in the second quarter of 2024 due to concerns about rising prices.
The survey, which focuses on Hispanic attitudes and opinions at regional, state, and national levels, found that only 31% of Hispanics reported being better off financially compared to the previous year, a significant drop from 59% in the first quarter of 2024.
Additionally, optimism about the long-term economic outlook fell from 58% to 38% during the same period, leading to an overall decrease in the Hispanic Consumer Sentiment Index from 85.3 to 68.3.
Furthermore, fewer Hispanics expect improved business conditions in the coming year, and there has been a decline in the number of people considering it a good time to make large purchases.
Despite these trends, there was a slight increase in optimism about future financial situations, with 80% of Hispanics feeling more positive about their financial futures.
The survey, which was conducted between April 1st and June 30th, sampled 366 Hispanic adults using both landlines and online data collection methods.
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