U.S. President Joe Biden delivers remarks on the U.S. economy and his administration’s effort to revive American manufacturing, during his visit in Flex LTD, a factory that makes solar energy microinverters, in West Columbia, South Carolina, U.S. July 6, 2023.
Jonathan Ernst | Reuters
President Joe Biden’s economic approval numbers have risen modestly in the wake of efforts by the White House to promote what it calls “Bidenomics” and some improvement in inflation, but a substantial majority of respondents to the CNBC All-America Economic Survey still disapprove of Biden’s handling of the economy.
The survey also found that Republicans hold double-digit leads on which party Americans believe is best to handle critical economic issues like inflation and jobs and that higher interest rates are beginning to hit Americans in their wallets.
The president’s economic approval rating inched up by three percentage points compared to the prior survey in April, with a four-point drop in disapproval. It now stands at 37% approving and 58% disapproving. The 21 point net-negative rating rose substantially from negative 34 one year ago. It was driven by double digits gains in approval from Democrats, but also men and retirees.
The survey showed small gains in American’s views on the economy, though to levels that remain depressed. The percentage of American saying the economy is excellent or good rose 6 points to a still-low 20%. The percentage saying the economy is just fair or poor declined 6 points to a still-high 79%. Just 24% of the public believes the economy will improve in the next year, a relatively low mark for the survey but up six points compared to April and the percentage expecting the economy to get worse fell 10 points to 43%.
“I think it’s some combination of the messaging (and) of people possibly legitimately starting to think that the economy is not quite as bad anymore,” said Jay Campbell,…
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