President Donald Trump's economic approval rating has hit an all-time low in the latest CNBC All-America Economic Survey, with 65% of Americans disapproving. Republican pessimism about the economy has risen, and voters prefer Democratic control of Congress by 52% to 45% ahead of the midterm election.
Americans are nearly as gloomy about the economy as they were when the nation was emerging from the pandemic, and Trump's economic approval rating is at an all-time low, according to the latest CNBC All-America Economic Survey. The poll was released Thursday, with less than two weeks to go before the congressional elections.
Economic approval falls to a new low
Trump's economic approval fell to 34% from 38% in three months, while disapproval rose to 65% from 60%. His net economic approval of -31 is the lowest of either of his two terms.
The 65% disapproval figure is 1 percentage point higher than Joe Biden's worst showing. It is also the highest for any president CNBC has surveyed going back to Barack Obama.
Trump's overall approval has stayed stable, but at 40% approving and 59% disapproving. His net approval of -19 percentage points compares with -8 a year ago.
Republicans turn more pessimistic
Eight out of 10 Americans rate the economy as fair or poor, the highest number since December 2023. Overall, 63% of the public is pessimistic about the current state of the economy and the outlook, up 1 percentage point from July.
That figure now includes 35% of Republicans, up 6 points from July, the highest level of Republican pessimism of either of Trump's terms. Micah Roberts, partner at Public Opinion Strategies and the survey's Republican pollster, said the shift came because Republicans have become more sour, not independents or Democrats.
Democrats lead the midterm outlook
The survey of 1,000 registered voters found Americans prefer Democratic control of Congress by 52% to 45%, a 3 percentage point gain for Democrats since July. In addition, 72% of Democrats are highly interested in the Nov. 3 election, compared with 62% of Republicans.
Jay Campbell, partner at Hart Associates and the Democratic pollster, said the results are moving away from Republicans or toward Democrats in a way that "would make me very nervous" if he led Republican campaigns.
Republicans still hold an advantage on border security and immigration, though their lead on immigration fell to +9 from +15.
Source: CNBC
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