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Survey: 75% of Americans say economy in recession

(Xinhua)
Updated: 2008-03-18 09:17

NEW YORK -- About three-quarters of all Americans think the economy is now in a recession and the number who feel that way continues to grow, according to a CNN/Opinion Research Corporation poll released Monday.

In a telephone poll of over 1,000 adult Americans, 74 percent said they believe the nation is now in a recession. That figure rose from 66 percent in February and 61 percent in January, CNN said.

Economists' definition of a recession is two consecutive quarters of negative GDP growth, and though growth was sluggish in the last quarter -- 0.6 percent -- the U.S. economy has not yet shown one quarter of retraction. But to the average Americans, times are still tough.

More than a quarter of those surveyed think that the US economy is in a serious recession, with an equal number who think the US economy in a moderate recession. Only 16 percent said the economy is in a mild recession.

The poll was conducted between March 14 and March 16, CNN said.