Will the economy get worse? New poll finds huge shift in opinion since last fall

Brendan Rascius, Miami Herald on Apr 18, 2025

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A growing share of Americans believe the U.S. economy faces a rocky road ahead, according to new polling.

In the latest CNBC All-America Economic Survey, nearly half of respondents, 49%, said they think the economy will get worse. This is up from 33% in December and 17% in October, marking a dramatic increase in pessimism in just six months.

“The 49% that think the economy will get worse is the highest since 2023,” CNBC’s senior economics reporter Steve Liesman said when summarizing the findings on air.

Meanwhile, 37% said they believe the economy will get better, which is down from 46% in December, but the same level as in October.

At the same time, a majority of respondents, 55%, said they disapprove of President Donald Trump’s handling of the economy, while 43% said they approve.

“It is the lowest economic approval in any CNBC poll while President Trump has been in office, and his first net negative showing on the economy” Liesman said.

Further, Trump’s approval on specific economic issues is underwater, with a net approval rating of -23 on inflation and the cost of living and a -16 rating on tariffs. On these issues, he garnered net negative ratings with Democrats and independents, and net positive ratings with Republicans.

Trump’s overall job approval is also underwater, with 51% of respondents expressing disapproval and 44% expressing approval.

The poll sampled 1,000 U.S. adults April 9-13 and has a margin of error of 3.1 percentage points.

It comes more than two weeks after Trump issued sweeping tariffs on most of the globe — some of which he has walked back.

On April 2, the president unveiled his “Liberation Day” tariffs, which included a 10% baseline rate on all foreign imports as well as higher “reciprocal” rates for dozens of countries.

Then, on April 9, he announced a 90-day pause on the higher “reciprocal” rates, while also increasing the rate on China to 125%. In explaining his decision, he said “more than 75 countries” had reached out to negotiate trade deals.

And on April 11, the Trump administration said it would exempt tariffs on imported electronics, many of which are sourced from China, according to the Associated Press.

These moves have sent shockwaves through global markets, which have fallen and risen dramatically in the wake of the president’s policy changes.

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