President Donald Trump is facing a clear weakening in public confidence on the economy, with a trio of new national polls pointing to declining support and deepening pessimism among voters.
Fresh surveys from AP-NORC, Gallup and Fox News all show a similar pattern: softening Republican backing, falling confidence in economic conditions, and growing dissatisfaction with inflation.
Key Points
- Republican approval of Trump’s handling of the economy has fallen from 78 percent to 63 percent in the latest AP-NORC poll
- Just 16 percent of Americans rate the economy positively, a nearly four-year low in Gallup’s latest survey
- Fox News finds 77 percent of voters say the economy is in bad shape, the worst reading in over a year
- Trump’s approval on inflation has dropped to just 24 percent, including majority disapproval among Republicans in the Fox News poll
All About the Economy
Three major national polls released in mid-May show declining confidence in the economy and falling approval of Trump’s economic performance as inflation and living costs rise.
The economy remains the dominant issue ahead of the 2026 midterms, and weakening confidence could pose risks for Republican candidates.
Republicans face growing internal pressure as signs emerge that parts of Trump’s core coalition are becoming less unified on economic leadership.
Why It Matters
Perceptions of the economy are one of the strongest predictors of electoral outcomes, making shifts in sentiment politically significant.
Rising inflation and energy costs appear to be cutting through partisan loyalty, with discontent now visible even among Republican voters.
AP-NORC Poll Shows Slippage Among Republicans
A new Associated Press-NORC poll points to early signs of erosion within Trump’s political base, with Republican approval of his handling of the economy falling to 63 percent, down from 78 percent at the start of his second term.
The broader national picture is also weak, with roughly one-third of Americans approving of Trump’s handling of the economy, down from earlier in his presidency.
The survey was conducted May 14–18, 2026, among 1,117 U.S. adults using NORC’s probability-based AmeriSpeak panel via online and telephone interviews, with a margin of error of plus or minus 3.8 percentage points.
Gallup Poll Highlights Collapse In Economic Confidence
Gallup’s latest data points to a sharp deterioration in economic sentiment, with just 16 percent of U.S. adults rating the economy as “excellent” or “good,” while 49 percent say it is “poor” and 34 percent “only fair.”
The poll, conducted May 1–17, 2026, among 1,001 adults reached via landlines and cellphones, has a margin of error of plus or minus 4 percentage points.
Gallup’s Economic Confidence Index combines how Americans rate the current economy with how they expect it to perform in the future, producing a single score that runs from -100 to +100.
The metric has fallen to -45, matching its lowest level since 2022, with roughly three-quarters of Americans saying conditions are getting worse.
Fox News Poll Underscores Broad Voter Pessimism
A Fox News survey reinforces the trend, with 77 percent of voters saying the economy is in bad shape—the most negative reading in over a year—while just 23 percent rate conditions positively, the lowest in more than a year.
Meanwhile, a slim majority, 51 percent, say their own finances have worsened over the past two years.
The poll was conducted May 15–18, 2026, among 1,002 registered voters using a mix of live telephone interviews and online responses drawn from a national voter file, and has a margin of error of plus or minus 3 percentage points.
Trump’s approval on handling the economy stands at 29 percent, with 71 percent disapproving, while his performance on inflation is weaker still, with only 24 percent approving, down from 35 percent in January.
Notably, inflation is becoming a point of tension within the Republican coalition, with 51 percent of Republicans disapproving of Trump’s handling of the issue, alongside 85 percent of independents and 96 percent of Democrats.
What the White House Says
The White House has sought to play down the significance of the latest polling, instead pointing to Trump’s 2024 election victory as the clearest indicator of public support.
Spokesman Davis Ingle has emphasized the scale of that win, saying “nearly 80 million Americans overwhelmingly elected President Trump,” framing it as a mandate for the administration’s agenda.
He also said the White House remains focused on what it describes as core economic priorities—including jobs, inflation and housing affordability—while arguing the impact of the president’s policies is still unfolding.
“The ultimate poll was November 5, 2024,” Ingle said, adding that Trump was elected “to deliver on his popular and commonsense agenda.”
Ingle further pointed to what the administration sees as early signs of progress, saying the president “is working tirelessly to create jobs, cool inflation, increase housing affordability, and more,” and that “this is just the beginning as his agenda continues taking effect.”
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