Almost nine in 10 Americans believe the US economy is still mired in recession, a new CNN poll released on Thursday found.
Fully 87 per cent of those questioned in the CNN survey said they believe the United States was in a serious, moderate or mild recession. Public perceptions about the economy's wellbeing are very important, particularly in the United States where two-thirds of economic activity is consumer spending.
"Economists may be speculating that the recession is over, but don't tell that to the American public," says CNN Polling Director Keating Holland.
"The good news -- if you can call it good news -- is that the number who say things are going badly has been dropping steadily since last fall -- from an all time high of 83 per cent in November to 77 per cent in April and 69 per cent now," Holland added.
The percentage of people surveyed who believe the United States is in a serious recession eased a bit from 42 per cent in May to 36 per cent now.