(Paul Egan/DETROIT FREE PRESS) -

LANSING - The economic mood of Michigan voters is stuck where it was in the spring - brighter than during the recent recession but nowhere near as optimistic as it was in the 1990s, according to MSU's latest State of the State Survey.

The survey of 1,015 Michigan residents found 54.4% rated their current economic situation as "excellent" or "good." That's the most upbeat result since 2005, but it's statistically about the same as the spring result, which was 54.1%.

In 1998-99, about 64% of Michigan residents rated their economic situation as excellent or good.

Asked this summer whether they believe they will be better off one year from now than they are today, 48.7% said yes. That's roughly consistent with results since 2009, but down from the spring result of 61%.

"It feels like the economy is in second gear, maybe even in third gear," said Charles Ballard, an economics professor at MSU who is the director of the survey conducted several times a year.

"That's a whole lot better than the economy being in reverse, which it was three years ago, but it's not as good as 12 years ago, 13 years ago, when the economy was in overdrive."

Republican Gov. Rick Snyder's approval ratings ticked up, with 36.8% of residents rating his performance "excellent," or "good," compared to 33% in the spring.

Ballard said the survey of 1,015 likely voters has a margin of error of +/3.1%.

The survey, conducted in June, July and August before the national party conventions, found Democratic President Barack Obama leading Republican and Michigan native Mitt Romney by 38.8% to 29.8%, with 30% undecided.

That part of the survey included 808 respondents who said they were likely voters and had a margin of error of about +/-3.5%.

A breakdown of party identification for the 808 likely voters was not immediately available. For the overall survey, Ballard said 30% of respondents identified themselves as Democrats and 25% as Republicans.