A majority of black and Hispanic adults believe that the U.S. is already in a recession, according to a recent Economist/YouGov poll.

The poll found that 51 percent of black Americans and 54 percent of Hispanic Americans “believe the United States is currently in an economic recession.”

Twenty-five percent of black Americans do not believe the U.S. is in a recession, while 24 percent are “not sure.” Twenty-eight percent of Hispanic Americans do not believe the U.S. is in a recession, while 18 percent are “not sure.”

When asked what they believe is the “best indicator” that the country is in a recession, a plurality of black Americans (48 percent) and Hispanic Americans (47 percent) responded with “the prices of goods and services you buy.”

The survey also found that 67 percent of white men without a college degree believe the country is in a recession, while 59 percent of white women without a college degree responded the same way. For those who are college graduates, 53 percent of white men believe the country is in a recession, while 57 percent of white women responded the same way.

The poll asked 1,500 U.S. citizens aged 18 and over (1,359 registered voters) and was conducted between June 25 and 28. The margin of error is plus or minus 3.2 percent.

The economy under President Joe Biden has suffered considerably as consumer spending lags while inflation has hit a 40-year-high.

As Breitbart News recently reported, the American economy shrank at a 1.6 percent annual pace, which is the first time since the start of the coronavirus pandemic in March 2020 that “the economy registered a negative rate of growth.”

Furthermore, consumer spending only increased marginally at 1.8 percent, compared to what was estimated to be a 3.1 increase.

As consumer spending decreases, prices have risen at a 7.1 percent annual pace, according to the U.S. government. Consumers have been feeling the squeeze of inflation, most notably with soaring gas prices and increased grocery expenses.

You can follow Ethan Letkeman on Twitter at @EthanLetkeman.