More than half of Americans (56 percent) believe that the U.S. economy is already in a recession, according to a new survey of 1,500 adults commissioned by life insurance company MassMutual.
How Americans feel about a possible recession:
1. Of the half of Americans who do not believe the U.S. is in a recession, 49 percent think it is likely there will be one in the next year.
2. One-third of survey Americans who do not believe the U.S. is in a recession believe the economy will not change in the next year.
3. The majority of Americans (80 percent) are worried about a recession's impact on their daily spending.
4. A third of Americans plan to spend less on gifts this holiday season.
5. The majority of Americans (88 percent) voiced concerns about inflation, up from 87 percent three months ago.
6. About 58 percent of Americans expect their spending to remain unchanged.
7. Sixty-seven percent of Americans feel confident about their current personal financial outlook.
8. Concern about the housing market is down 8 percentage points from three months ago.
9. Inflation remains the top concern (88 percent) among all age groups, with political climate ranked second at 76 percent.