Consumers have a gloomy view of the US economy, according to the results of a new survey by the Nielsen Company.

It shows that the vast majority of people believe the country is currently in a recession, while 54 per cent expect it to last longer than a year.

Consumers aged 25 to 29 are the least optimistic about the country's economic prospects. Indeed, just six per cent said they believe the recession will be over within 12 months.

"Younger consumers grew up in an era of prosperity and have never really known economic challenges to this extent," explained James Russo, vice president of marketing at the Nielsen Company.

The survey also shows that men are more optimistic than women, both in terms of whether the economy currently is in recession and how long it will last.

According to the Conference Board, consumer confidence plummeted last month amid fears over job security, personal finances and debt.

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