Clear majority sees double-dip recession on the horizon, survey finds

Still, just 5 percent of those surveyed think there will be a full recovery by the end of the year, and only 21 percent see a recovery taking place by the end of next year, 2011.

Half of all respondents see a recovery not coming until after 2011, and nearly one-quarter (23 percent) doubt the economy will ever fully recover.

"The American public — characteristically optimistic and resilient — is looking around and seeing more and more dark clouds approaching on the horizon," StrategyOne Vice President Bradley Honan said in prepared remarks. "Not only has confidence in the economy been severely undermined, there are now real, significant doubts emerging about our country."

Fueling Honan's comment are poll results showing that 41 percent of respondents plan to cut back on spending for the rest of the year; 79 percent say they will cut back on Christmas spending; and 87 percent say they do not plan to make a big-ticket purchase (such as a home or car) for the rest of the year.

"As we enter the 34th month since the Great Recession began, we see the mindset of consumers turning even more cautious and conservative than what we have seen previously," Honan said. "The consumer economic engine which drives our growth is either stalled or stuck in first gear. Until consumers feel more confident and are willing to spend more freely, growth will likely be anemic at best."

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