More and more Americans are losing confidence in President Donald Trump’s ability to handle the economy, according to the latest Gallup poll that found his economic approval rating has dropped to 47 percent in June, a 16-point decrease from numbers reported at the beginning of the year. The poll was the first to show an economic approval rating below 50 percent since November 2017 (when 45 percent of Americans approved).
“In January, Americans were mostly positive about U.S. economic conditions, a record few cited the economy as the nation’s top problem and a solid majority approved of Trump’s handling of the economy,” Gallup reports. “Today, Americans’ views have turned negative, they are more likely to name the economy as the top problem and Trump’s job approval rating on the issue has dropped below 50%.”
Americans believe the economy is “the most important problem” facing the country today.
“Before the coronavirus brought the country to a near standstill in March, Americans’ ratings of the economy and the president’s performance on it were as good as they get in an election year,” Gallup wrote. “Other issues may have ultimately overshadowed the economy in voters’ choice for president, but the economy was still a positive component of the value proposition Trump was offering for another four years in office.”
With the U.S. economy formally slipping into a recession in February, Trump’s reelection now appears in jeopardy,” it continued. “At the same time, the 2020 recession is unusual in that it was brought on by a pandemic, at least partially shielding Trump from blame. These nuances are seen in Trump’s approval rating on the economy, which remains relatively strong, and the low percentage of Americans still citing the economy as the nation’s top problem.”
Despite this, the president’s most recent approval ratings than those former presidents Barack Obama and George W. Bush received prior to their re-elections in 2012 and 2004.