CNN and ORC International released a poll on Friday that looks at the American economy by the numbers in relation to the conflicting perspective that most Americans have on the current economy.

While the poll notes that by some measures the economy has made notable improvements over the past year, the survey shows that most Americans are not in agreement about the so-called economic improvements.

Of those polled, approximately one-third rated the current U.S. economy as good, a stark contrast to the 70 percent of respondents who said that the economy is in overall poor shape.

Most people living in rural America rated the economy as poor and just over half of those polled envision that economy will remain in poor shape for at least the next year.

CNN reports that the economy has made some significant gains over the past year. The stock market, for example, has climbed, with the NASDAQ up 40 percent since January.

Additionally, unemployment is reported to be at a five-year low, auto sales are at a seven-year high, gas prices have dropped and the housing market is on the rebound.

However, the poll shows that two-thirds of Americans report that overall the economic news they've heard recently has been overwhelmingly bad.

"Behind those [positive] numbers [on the economy] are the long-term unemployed, the under-employed and those who have dropped out of -- or never even entered -- the workforce," CNN said. "They're not sharing in the surging stock market, and many are about to lose jobless benefits."

The survey shows that these people are no longer purchasing "big-ticket" items like furniture or appliances. They are also cutting back on buying the essentials.

Of those polled, 36 percent of respondents reported that they were cutting back spending on necessities like food and medicine. This number is up from 31 percent in late 2008, which was the year the housing market collapsed.

"The middle class income has stagnated," said CNN Chief Business Correspondent Christine Romans. "The rich get richer. Everyone else, well, they aren't."