Correction: Public pessimism on the economy hits a new high, CNBC survey shows
His overall rating fell by 2 percentage points to 39% and his disapproval rating rose by a point to 55% compared to the November survey.Americans disapprove of Biden's handling of the economy by a 62% to 34% margin, a deterioration from the 57% to 38% margin in the last survey. It was the second-worst reading of his presidency on the economy.Overall approval from Democrats dropped 2 points to 77% compared to a year ago and by 9 points for independents to just 27%.
"It's clear that as much as there is a partisan overlay to people's attitudes, everybody is also feeling the squeeze including Democrats and that's depressing numbers with the base,'' said Jay Campbell, partner at Hart Research, the survey's Democratic pollster.The only silver lining, he said, is Biden has time to shore up his base before the next election.
"One group that I think is especially important to keep an eye on is women 18 to 49, a very important part of the Democratic coalition,'' said Micah Roberts, partner at Public Opinion Strategies, which serves as the survey's Republic pollster. "They have they've seen a massive drop in terms of their economic approval." The rating for that metric dropped 13 points compared to last quarter to 34%.
Fully 81% of respondents say they are taking some action, such as spending less on entertainment, traveling less or using savings to pay for purchases.
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