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Nearly Four In Five Americans Believe Nation Is In Recession, Poll Says

December 6, 2010 by  

Nearly four in five Americans believe nation is in recession, poll saysA recent survey reveals that 79 percent of Americans believe that the United States is still in a recession.

The poll, called the StrategyOne Annual Holiday Shopping Index, found that only 10 percent of respondents believe that the economy will improve in 2011. Approximately 39 percent said that they are concerned enough about the economy that they are planning to spend less this holiday season, while 52 percent said they will keep their spending in line with last year's shopping.

Public pessimism emerged in the survey despite recent reports that show economic progress, such as the consumer confidence index reaching its highest level since June 2009.

According to Bloomberg, President Barack Obama recently met with Wal-Mart Stores CEO Mike Duke and former Procter and Gamble CEO Alan Lafley to discuss the economy's future. The news provider reports that Obama, who has been criticized by corporate executives and the U.S. Chamber of Commerce, is attempting to improve his relationship with the business community.

"Getting the insight and the ideas of those that employ so many is important to the economic decision-making that the President and [his] team will have to make," Gibbs said, quoted by the news source. 

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