President Donald Trump received his lowest economic approval rating of either term in the latest CNBC All-America Economic Survey, which CNBC released on Thursday, less than two weeks before the Nov. 3 congressional elections.
Trump's economic approval stood at 34%, down from 38% in July, while disapproval climbed from 60% to 65%, CNBC said. His net economic approval of -31 is nine points lower than in July. The 65% disapproval figure tops that of every other president in CNBC's surveys, which extend back to Barack Obama's presidency.
Trump's job approval has held steady, with 40% of respondents approving and 59% disapproving. His net approval of -19 is down from -8 at this point last year.
Pessimism about the economy has climbed among Republicans. Among the public as a whole, 63% hold a downbeat view of both present conditions and the outlook, a one-point increase from July. That view is shared by 35% of Republicans, a six-point jump and the largest Republican share during either Trump administration. Four in five Americans describe the economy as only fair or poor, a larger share than at any point since December 2023, according to CNBC.
"We got there not because of independents or Democrats getting more sour — it's because Republicans have," said Micah Roberts, a partner at Public Opinion Strategies, which handled the GOP side of the polling, according to CNBC.
Respondents would rather see Democrats run Congress, 52% to 45%, which is up three points for the party since July. The survey, which polled 1,000 registered voters, carries a possible error of 3.1 points in either direction.
Prices weigh on voters. Eighty percent of respondents believe prices are climbing, a five-point increase over last year, while 55% think the pace is quicker than normal. For 57% of respondents, the biggest worry is what food, gas and housing cost.
Roberts described the contest as a battle between "the map and momentum," noting that a sweeping Democratic gain would depend on taking numerous seats and states where Trump prevailed comfortably in 2024.
A CNN poll conducted by SSRS from Oct. 15 to 18 found similar trends, according to CNN. That survey put Trump's overall approval at a record-low 32%, with 27% approving of his handling of the economy. Democrats led Republicans 49% to 39% among registered voters in their choice for their own congressional district, according to CNN.
Two-thirds of Americans, among them about a third of Republicans, believe Trump's policies have left the economy in worse shape, according to CNN.