Only 29% of Americans approve of Trump’s handling of the economy, giving him a net approval rating of minus 34 points, his lowest on the issue across either of his terms in office, according to an Economist/YouGov poll conducted June 5-8.
The figure marks a sharp deterioration from Trump’s first term, when more Americans approved than disapproved of his handling of the economy, producing a net approval rating of plus 8 points at a comparable stage.
Meanwhile, widespread concern over rising prices is weighing on Americans’ assessment of the economy, with majorities saying the prices of cars and housing have increased significantly over the past year.
The pressure is particularly evident in fuel prices, with 76% of Americans saying gasoline prices have risen a lot over the past year and another 14% saying they have risen somewhat.
The findings come as the economic consequences of the US war on Iran have become an increasingly prominent source of public concern, with rising energy costs adding to pressure on households.
Recent polling and reporting have likewise linked rising US fuel prices and economic dissatisfaction to Trump’s handling of the war on Iran.
Separately, Americans’ perceptions of the economy remain closely associated with their political views, with Trump’s strongest supporters far more likely to describe economic conditions as improving than those who disapprove of his presidency.
Among Americans who strongly approve of Trump’s overall job performance, 53% say the economy is getting better, compared with 22% among those who somewhat approve, 5% among those who somewhat disapprove and just 1% among those who strongly disapprove.
Stock-market exposure also shapes perceptions of economic conditions, with 37% of Americans saying they have money invested in the market.
Overall, 20% of Americans who own stocks say the economy is getting better, compared with 11% of those who do not have money invested in the market.
The difference is most evident among independents and Republicans, while Democrats who own stocks and those who do not report broadly similar views of the economy.
Among Republicans who own stocks, 40% say the economy is getting better and 23% say it is getting worse, while non-investing Republicans are evenly divided, with 27% saying the economy is improving and 27% saying it is deteriorating.
Trump’s overall job approval is also near its lowest level, with 35% of Americans approving of his performance and 60% disapproving, producing a net approval rating of minus 25 points.
The latest figures underscore the growing public dissatisfaction confronting the Trump administration as economic pressures, rising prices and the consequences of the US aggression on Iran increasingly shape Americans’ assessment of his presidency.