Boston residents’ outlook on the future has declined from nine months ago, yet they remain more upbeat about the economy than Americans nationally, according to a new survey.

Three in five (61 percent) Bostonians believe local business conditions will get somewhat or much better in the next year, significantly more hopeful than adults nationally, 53 percent of whom believe local business conditions will improve, according to a new survey issued today by Citi, and conducted by Hart Research Assoc.

Slightly more than half of Bostonians (54 percent) believe the economy isn’t close to hitting bottom, compared with 62 percent nationally.

However, when it comes to the local economy and their own personal financial situation, the outlook dims. Sixty-four percent of Boston residents are somewhat (50 percent) or very (14 percent) optimistic that their own financial situation will get better over the next 12 months. While this mirrors the national response, it is a four point decline since September.

The percentage of Boston residents who feel the local economy is excellent or good has held relatively steady since September (29 percent vs. 28 percent nine months ago) however the percentage of Bostonians who rate the economy as "poor," increased 10 points to 26 percent from 16 percent in September.

In addition, the majority of Boston residents believe we have not yet hit bottom and the timetable for economic recovery will be measured in years, not months. More than half of Bostonians surveyed believe we still have a ways to go before the economy hits bottom. While this has moved negatively 6 points since September, comparatively 62 percent of Americans nationally believe the economy has not hit bottom. Fifty-six percent of Bostonians believe it will be at least two or three years, if not longer, before the economy stabilizes for their household. While 23 percent believe it will take four or more years before the economy stabilizes for their household.

"Bostonians’ optimism is a bright spot and it tracks with our findings in a similar survey in March that consumers in the Northeast had a more hopeful economic outlook than their counterparts nationwide," said Ken Kavanagh, EVP, head of Citibank’s Central and Atlantic regions. "However, Bostonians are cautious about their own personal financial situations and their expectations about economic recovery. Although we’ve had four consecutive quarters of economic growth, national employment data remains disappointing. They may sense the recovery has lost momentum."

The survey found 34 percent of Bostonians report that they are very (13 percent) or somewhat (21 percent) uncomfortable with their level of debt, an increase of 6 points since September 2009. Nationally, 33 percent of Americans say they are uncomfortable with their current level of debt. One in four (24 percent) Bostonians says that they have at least one area of debt that constitutes a major or unmanageable problem. Of greatest concern is credit card debt and student loans (8 percent respectively) followed by health expenses (6 percent).

When it comes to Bostonians’ confidence in their financial literacy, the survey found that Boston women reported feeling more confident than Boston men in almost every area.

On household budgeting, 71 percent of women rated themselves a seven to 10 (on a zero-to-10 scale) versus 66 percent of men.

This also held true for buying a home/managing a mortgage (60 percent of women and 55 percent of men) and understanding credit history and credit score (71 percent of women and 61 percent of men).

However when it came to investments, just 32 percent of women rate themselves a seven or higher compared to 46 percent of men.

"Right now, Bostonian’s top financial priorities are saving for emergencies, to reduce debt and to fund retirement. It’s good to see they are exercising discipline to navigate the downturn in the near-term while keeping an eye to the future," added Kavanagh.