BUSINESS INFORMATION - Nearly nine out of 10 Americans believe the U.S. economy is still mired in recession

BUSINESS INFORMATION - Nearly nine out of 10 Americans believe the U.S. economy is still mired in recession, according to a new CNN poll released Thursday.

Fully 87 percent of those questioned in the CNN survey said they believe the United States was in a serious recession, moderate or mild.

Public perceptions of economic welfare is very important, especially in the United States where two-thirds of economic activity is consumer spending.

Percentage of people surveyed who believe the United States is in a serious recession decreased slightly from 42 percent in May to 36 percent now.

Republic, which ruled for eight years, blamed more on the state of the U.S. economy than the Democrats, 41-27 percent.

But the blame has been switched to the Democratic Party since May when only 21 percent of those surveyed think they are responsible for the economic situation, compared to 53 percent who blame the Republicans.