A large majority of US citizens expect economic conditions to worsen in the months ahead, according to a new Gallup poll commissioned by USA Today.

The news provider reports that 73 per cent of consumers believe the economy is in a "poor" state and 84 per cent believe the situation will deteriorate further.

Furthermore, two-thirds of those questioned say their personal financial situation and their debt levels have taken a hit as a result of stock market falls and troubles in the housing market.

Despite promises from both presidential candidates to rescue the US economy, only 44 per cent of respondents have confidence in Barack Obama to steer the country through the troubles and just 31 per cent believe John McCain has the ability to do so.

Meanwhile, in a survey by Reuters and the University of Michigan, 57 per cent of consumers said they had lost confidence in the Federal Reserve over the last five years.

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