Consumer confidence among Hispanics Improves
SOURCE: Florida Atlantic University Business and Economics Polling Initiative
BOCA RATON, Florida, October 9, 2018 / PRNewswire-HISPANIC PR WIRE / – Consumer confidence among Hispanics in the United States has improved in the third quarter of 2018 since they have more optimistic about their financial situation, as also of the overall economy, according to a new national index of consumer sentiment conducted by the Initiative Survey Economics and Business from Florida Atlantic University (FAU BEPI) at the School of Business at FAU.
The Consumer Sentiment Index of Hispanics (HCSI) taken from July to September, remains at 93.7, meaning more than seven points over the second quarter of 2018, when the index stood at 86.4. However, the index is inclined the same way the quarterly percentage of 98.1 for the overall population of the United States, as published in the month of September by the University of Michigan.
Overall, 62 percent of Hispanics said they are better from the economic point of view compared to the previous year, almost six points higher than the second quarter of 2018 (56.2 percent). Looking into the future, 72.4 percent of Hispanics said their situation will improve next year, which is a slight increase from 71.6 percent of those who rallied in the second quarter. The short-term economic outlook of Hispanics has improved since 59.5 of them expressed that they expect the country in general has positive conditions for business next year, which means an improvement of 10 points over the quarter previous.
The long-term outlook also improved, as 57.6 percent of Hispanics have the expectation that the country generally will go through a good time over the next five years. This percentage is slightly higher than the second quarter, which was 56.2 percent. Overall, 58.2 percent of Hispanics think it is a good time to buy basic household items; This percentage is higher than the second quarter, which was 51.7 percent.
President Trump approval among Hispanics improved from 33 percent to 37 percent in the third quarter of 2018, standing in the place that was in the first quarter. Of those interviewed, 20.4 percent identified themselves as Republicans, 37.7 percent as Democrats, 17.5 percent as Independents and 24.4 percent were not registered with any political party.
The survey was conducted nationwide from July 1st to September 30th. The survey sample taken randomly and consisted of 750 Hispanics, 18 or over 18, with a margin of error of +/- 4.1 percent. The survey was administered using both data collection via IVR telephone line of the house as data collection on the line. The results of the survey are available at: business.fau.edu/bepi
