A recent survey shows increasing doubt about the U.S. economy’s health under Donald Trump’s leadership. Published on Sunday by the Financial Times and Focaldata, the poll indicates only 33 percent of registered voters approve of Trump’s performance. This reflects a three-point decline since last month, marking the lowest approval since the survey began in May.
The poll included 2,178 adults, indicating that 66 percent believe the economy is moving in the wrong direction. This percentage represents a poll high. Trump’s approval on “inflation and cost of living” has fallen to a historic low of 17 percent, with 69 percent disapproving of his handling. His approach to “jobs and the economy” also experienced a drop, reaching 26 percent approval.
Newsweek sought comments from the White House outside regular hours.
Economic Approval Waning
Currently, only 18 percent of Americans feel financially better than they did when Trump resumed office last January, a decrease from 32 percent in May. Meanwhile, the percentage of those feeling worse off increased to 57 percent, rising from 36 percent.
This trend aligns with growing negative sentiments within both political parties. Those saying the economy is going in the wrong direction increased to 66 percent, up from 61 percent in May. Disapproval of Trump’s inflation and economic management grew to 69 percent from 58 percent. Trump’s supporters show diminishing confidence, with only 44 percent believing the economy is on the right track, down from 55 percent.
Among strong Republicans, only 52 percent view the economy as progressing in the right direction, a decline from 65 percent.
Midterm Threat
Recent polls reinforce increased pessimism, intensified by the Iran War starting in late February. The administration faces challenges, particularly as economic issues loom large in forthcoming elections.
A Harris Poll for The Guardian highlighted that 95 percent of Americans perceive an affordability crisis due to rising living costs. Fuel prices escalate, with diesel reaching unprecedented levels, nearing $6 per gallon. Additionally, mid-August polls from FT and Focaldata revealed greater trust in Democrats over Republicans for economic management—44 percent versus 38 percent.
The poll identified economic matters as the foremost concern for Americans ahead of the midterms. Inflation and living costs were selected by 43 percent, the economy and jobs by 31 percent, followed by war and immigration at 20 percent and 16 percent, respectively.
In addressing new survey results, a White House spokesperson for Trump acknowledged the impacts of the war, emphasizing ongoing commitment to tax cuts and energy abundance. August’s Bureau of Labor Statistics figures showed employment gains exceeding expectations, aimed at evidencing economic progress.
However, political consultant Matt Klink suggests mere rhetoric cannot sway voters to Trump’s agenda. Economic skepticism poses risks for the GOP, especially among key voter groups expecting price relief. If voters remain unconvinced and see rising costs, midterms could pivot on affordability, complicating the GOP’s position.
Editors contacted for this story: Daniel Orton and Cristina Diciu.