Americans are expressing a more pessimistic view on the economy, reflecting increased concerns regarding jobs, inflation, and general economic prospects, according to the latest CNBC All-America Economic Survey. This shift in sentiment has led to a decline in President Donald Trump’s approval rating related to his economic policies, falling to 42% approval against 55% disapproval, marking a net approval rating of -13%. This is the lowest figure recorded in any of the CNBC surveys conducted during Trump’s presidency.
The survey revealed that the president’s overall approval rating has decreased slightly, dropping from 46% to 44%, with disapproval rising by one percentage point to 52%. This trend seems to be consistent with a pattern seen during his second term, where his economic approval ratings are lagging behind his overall approval. In contrast, during his first term, Trump typically enjoyed positive polling figures on economic issues.
Of the 1,000 participants surveyed, 53% attributed potential economic problems stemming from a government shutdown to Republicans in Congress and the president, while only 37% placed blame on Democrats. A notable finding from the survey indicates that public discontent regarding the president’s economic management is deepening, with only 34% approving of his policies on inflation and cost of living—down from previous quarters. A significant 62% disapprove of these policies, illustrating the growing dissatisfaction among Americans who had hoped for changes in pricing and cost management.
Furthermore, Trump’s tariff policies have garnered a net approval of -15%, with 56% of the public expressing disapproval. This represents a worrying trend, as these numbers have declined from -6% recorded earlier. According to Micah Roberts, a pollster involved in the survey, this decline signals that personal economic challenges are increasingly impacting Americans’ confidence levels—more so than the repercussions of the government shutdown.
Interestingly, the survey also highlights a partisan divide. While Trump’s base remains robust, with overwhelming support from Republicans, independents appear to be leaning away from him, likely due to their heightened sensitivity to economic issues. This group plays a vital role in shaping the overall perception of the president’s economic performance, as noted by Democratic pollster Jay Campbell.
Amid these economic concerns, there has been one area of relative approval for Trump: his handling of southern border issues, which garnered a positive net rating. Additionally, while there was a slight uptick in public opinion regarding his foreign policy, overall views remain negative, particularly concerning his handling of the recent conflict between Israel and Hamas.
The survey, which was conducted from October 8 to October 12, shows a clear downturn in economic optimism, with only 27% of respondents rating the economy as “good” or “excellent.” Meanwhile, a considerable 72% described the economy as either “fair” or “poor.” Confidence in future economic improvements is waning, with just 32% believing the economy will get better next year—the lowest sentiment since early 2024.
As job worries continue to grip the nation, the overall outlook remains uncertain, showcasing the pivotal role that economic perception plays in shaping public opinion.