Hispanic Index of Consumer Sentiment

First Quarter 2024

TOPLINESRESULTSPRESS RELEASE

HISPANICS ARE MORE OPTIMISTIC OF THEIR PERSONAL

FINANCES AND THE ECONOMY

The Hispanic Consumer Sentiment Index (HCSI) in the first quarter of 2024 finds that the Hispanic population’s consumer confidence in the U.S. has increased compared to the fourth quarter of 2023. Specifically, the Hispanic Consumer Sentiment Index (HCSI) increased from 76.3 in the fourth quarter of 2023 to 85.3 in the first quarter of 2024.

Overall, there is an increase in optimism in the five questions used to generate the Hispanic Consumer Sentiment Index when compared to the fourth quarter of 2023. Below are the detailed results:

• In the first quarter of 2024, 59% of Hispanics said they are better off financially than a year ago, which is 11 percentage points (48%) higher than the last quarter of 2023.
   
• In the first quarter of 2024, 71% of Hispanics indicated they will be better off over the next year compared to 68% in the last quarter of 2023.
   
• Regarding the short run economic outlook of the country, 54% of Hispanics said they expect the country as a whole to experience good business conditions in the upcoming year compared to 49% in the fourth quarter of 2023.
   
• In terms of the long run economic outlook of the country, Hispanics are more optimistic in the first quarter of 2024 compared to the fourth quarter of 2023 (58% vs. 49%).
   
• In the first quarter of 2024, 41% percent of Hispanics think it is a good time to buy big ticket items compared to 38% percent in the fourth quarter of 2023.

Other key findings:

• Buying a house: 32% of Hispanics think it is a good time to buy a house compared to 29% in the last quarter of 2023.
   
• Buying a Car: 40% of Hispanics think it is a good time to buy a car compared to 35% in the last quarter of 2023.
   
• Cost of living: 77% of Hispanics said the cost of living has gone up compared to 78% in the last quarter of 2023.

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 447 respondents sampled between January 1 and March 31, 2024 and a margin of error of +/- 4.63 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.