Republican confidence in Trump's economy erodes as consumer sentiment hits record low
Consumer sentiment hit an all-time low in the University of Michigan's May survey, with Republicans and independents reaching a low point of Trump's second term. An AP/NORC poll found around 6 in 10 Republicans approve of Trump's handling of the economy, down from about 8 in 10 in February. The softening GOP view represents "a crack we're seeing," said Gallup senior editor Megan Brenan.
Consumer sentiment hit an all-time low in the University of Michigan's May survey released Friday, with Republican and independent voters' attitudes about the economy reaching a low point of President Donald Trump's second term, according to the survey.
Long-run inflation expectations for Republicans "are currently more than double their February 2025 reading on a monthly basis," the Michigan survey found. The overall sentiment reading fell to a record low, the university reported.
An AP/NORC poll released this week found that around 6 in 10 Republicans approve of Trump's handling of the economy, down from about 8 in 10 in February. Gallup's gauge of consumer economic confidence, also released Friday, showed that Republicans' economic outlook has dipped over the past four months to the lowest level of Trump's second term.
A CBS News/YouGov poll this month found that 36% of Republicans said Trump's policies were making them financially better off. By contrast, 2% of Democrats and 14% of independents reported feeling that way.
"It's a crack we're seeing," said Megan Brenan, senior editor with Gallup, referring to the softening GOP view on the economy.
The CBS News/YouGov poll also found that 37% of Republican respondents disapprove of Trump's handling of rising prices, an 11-point jump since March. Brenan noted a noticeable increase in the percentage of Republicans citing higher gas prices as their top concern: 10% in May, up from 4% in April.
Two-thirds of Republicans in the AP/NORC poll gave Trump a positive rating on his handling of the Iran war. Trump's overall approval rating among Republicans stood at 72%, according to the same poll.
White House spokesperson Kush Desai said in a statement: "While the President has been clear there would be short-term disruptions to ensure Iran can never possess a nuclear weapon, the Administration is focused on implementing the proven Trump agenda of tax cuts, deregulation, and energy abundance to keep America on a solid economic trajectory."