Hispanic Index of Consumer Sentiment

First Quarter 2022

TOPLINESRESULTSPRESS RELEASE

HISPANICS MORE OPTIMISTIC ABOUT THEIR  PERSONAL FINANCES

The Hispanic Consumer Sentiment Index (HCSI) in the first quarter of 2022 finds that the Hispanic population’s consumer confidence in the U.S. has increased compared with the fourth quarter of 2021. Specifically, the HCSI increased from 86.7 in the fourth quarter of 2021 to 92.0 in the first quarter of 2022.  

Overall, there is an increase in optimism in four out of the five questions used to generate the HCSI when compared with the fourth quarter of 2021. Below are the detailed results:

• In the first quarter of 2022, 65% of Hispanics said they are better off financially than a year ago, which is 6 percentage points higher (59%) than last quarter of 2021.
  
  • Men are more optimistic of their current financial situation compared to women (72% vs. 57%).
     
• In the first quarter of 2022, 73% of Hispanics indicated they will be better off over the next year compared with 70% in the last quarter of 2021.
  
  • Hispanics between 18-34 year old (82%) are more optimistic of their future financial situation than those between 35-54 year old (78%) are those above 55 years old (43%).
     
• Regarding the short run economic outlook of the country, 55% of Hispanics said they expect the country as a whole to experience good business conditions in the upcoming year compared with 51% in the fourth quarter of 2021.
  • Hispanics between 18-34 year old (61%) are more optimistic of the short-run economic outlook of the country than those between 35-54 year old (63%) are those above 55 years old (28%).
     
• In terms of long-run economic outlook of the country, Hispanics are more optimistic in the first quarter of 2022 compared with the fourth quarter of 2021 (61% vs. 53%).
  • Women are more optimistic of the long-run economic outlook compared with men (43% vs. 35%).
     
• In the first quarter of 2022, 50% percent of Hispanics think it is good time to buy big ticket items for the home compared with 53% percent in the fourth quarter of 2021.
  
  • Men are more optimistic that it is a good time to buy big ticket than women (60% vs. 40%)

Other key findings:

• Buying a house: 49% of Hispanics think it is good time to buy a house compared to 46% in the last quarter of 2021.
   
• Buying a car: 53% of Hispanics think it is a good time to buy a car which is the same as in the last quarter of 2021.
   
• Cost of living: 81% of Hispanics said the cost of living has gone up compared with 70% in the last quarter of 2021.

The poll is based on a panel sample of Hispanic adults, 18 years of age and older. The survey was administered using both landlines via IVR data collection and online data collection using Dynata. There were 612 respondents sampled between January 1 and March 31, 2022 and a margin of error of +/- 3.96 percentage points. 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 polling results and full cross-tabulations can be viewed on the FAU BEPI Website.