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Economic Optomism Among Hispanics - 7/4/16

While there has been a considerable amount of gloom regarding the U.S. economy lately, some groups are upbeat about their economic prospects.  Take Hispanics for instance – surveys by the nonpartisan Pew Research Center indicate that eight one percent of Hispanics say they expect their personal finances to improve over the next year. 

That compares with about sixty percent for the general U.S. population.  As pointed out by writer Janet Adamy, the optimism among Latinos is particularly striking given how much this group struggled since the onset of the most recent recession in late two thousand and seven.  According to Pew research, Hispanics lost a greater share of their wealth than any other ethnic group once the recession commenced. 

Despite that, Hispanic perceptions of their own finances are more positive than they were in two thousand and four.  That stands in stark contrast with Americans overall, who have become more pessimistic.  One of the factors is geography.  Hispanics are more concentrated in states that have enjoyed stronger economies in recent years, including California, Texas and Florida.    

Anirban Basu, Chariman Chief Executive Officer of Sage Policy Group (SPG), is one of the Mid-Atlantic region's leading economic consultants. Prior to founding SPG he was Chairman and CEO of Optimal Solutions Group, a company he co-founded and which continues to operate. Anirban has also served as Director of Applied Economics and Senior Economist for RESI, where he used his extensive knowledge of the Mid-Atlantic region to support numerous clients in their strategic decision-making processes. Clients have included the Maryland Department of Transportation, St. Paul Companies, Baltimore Symphony Orchestra Players Committee and the Martin O'Malley mayoral campaign.