President Donald Trump’s rating on the economy has hit a record low amid the government shutdown, a CNBC survey has found, with Americans souring on his handling of inflation and jobs.
The CNBC All-America Economic Survey, released Friday, showed just 42 percent of respondents approving of Trump’s economic performance, while 55 percent disapproved—the lowest of any CNBC poll across his two terms. His overall approval dropped to 44 percent, with disapproval rising by one percentage point to 52 percent.
Trump speaks about the economy in the Oval Office of the White House. / BRENDAN SMIALOWSKI / AFP via Getty Images
The survey of 1,000 adults nationwide conducted October 8-12 captured growing economic pessimism. Only 27 percent said the economy was “good” or “excellent,” while 72 percent described it as “fair” or “poor.” Just 32 percent expected the economy to improve next year, the lowest level since March 2024.
The downturn coincided with a government shutdown that began more than two weeks ago. A majority of respondents, 53 percent, blamed Trump and congressional Republicans for the shutdown’s economic impact, while 37 percent pointed to Democrats.
Trump delivers remarks on reciprocal tariffs during an event in the Rose Garden. / BRENDAN SMIALOWSKI / AFP via Getty Images
Approval of Trump’s handling of inflation and the cost of living fell to 34 percent, with 62 percent disapproving—the lowest numbers of his second term. His tariff policies also fared poorly, with 41 percent approving and 56 percent disapproving.
The slump deepened from April, when a CNBC poll recorded 43 percent approval and 55 percent disapproval on the economy—the first time Trump went net negative on economic performance while president.
“Donald Trump was reelected specifically to improve the economy, and so far, people are not liking what they’re seeing,” Jay Campbell partner with Hart Associates, the Democratic pollster for the survey, told the news outlet in April.
The Daily Beast has contacted the White House for comment.
The shutdown began on Oct. 1 after Republican spending proposals failed to secure the 60 votes needed to get through the Senate and the White House rejected Democrat demands for increased spending on health care.
With no government funding deal in place, hundreds of thousands of federal employees deemed nonessential by the White House were told they would work without pay.
The shutdown will continue until Congress reaches a deal on a funding bill. The last shutdown, during Trump’s first term in 2018, lasted for 35 days—the longest in U.S. history.