Even Republicans are souring on Trump's economy

Trump’s approval has been declining for months, and consumer sentiment data shows Republicans are losing confidence in the economy as well. The University of Michigan survey found overall sentiment reached an all-time low, while Republican and independent attitudes about the economy hit a low point of the second term. Long-run inflation expectations among Republicans rose sharply, more than doubling their February 2025 monthly reading. Other polling showed fewer Republicans approving of Trump’s handling of the economy and fewer saying his policies make them financially better off. Gallup and CBS News/YouGov results pointed to inflation, higher gas prices, and concerns related to the Iran war as contributors to the shift.

"The University of Michigan's May consumer sentiment survey released Friday revealed something more striking: Republicans are beginning to lose confidence in the economy, too. Republican and independent voters' attitudes about the economy hit a low point of Trump's second term, per the survey. Overall sentiment hit an all-time low, period. Expectations that inflation will remain high shot up among everyone surveyed - but especially Republicans. The long-run inflation expectations for Republicans "are currently more than double their February 2025 reading on a monthly basis," the Michigan survey found."

"An AP/NORC poll out this week found that around six in 10 Republicans approve of Trump's handling of the economy. That's down from about eight in 10 in February. Gallup's gauge of consumer economic confidence released Friday found that Republicans' economic outlook has dipped the past four months to the lowest level of Trump's second term. A CBS News/YouGov poll this month told much the same story: Just 36 percent of Republicans said Trump's policies were making them financially better off. Two percent of Democrats and 14 percent of independents reported feeling that way."

"General satisfaction is still reasonably high among Republicans, but the softening GOP view on the economy is "a crack we're seeing," said Megan Brenan, a senior editor with Gallup. Between the lines: The reasons for the gloom aren't hard to spot. Inflation: 37% of Republican respondents disapprove of Trump's handling of rising prices, an 11-point jump since March, per CBS News/YouGov. Gas prices: Brenan pointed out there's been a noticeable increase in the percentage of Republicans citing higher gas prices as their top concern - 10 percent in May, up from 4 percent in April."

Read at Axios