Despite strong stock market gains and restrained inflation readings, economic pessimism among US residents has risen to its highest level since late 2023. According to a new CNBC All‑America Economic Survey of 1,000 adult respondents nationwide, 61% of Americans view both the current economic situation and its prospects negatively. Only 25% express an optimistic outlook.

The main source of public discontent remains the persistently high cost of basic goods and services. Because of rising living costs, 47% of respondents have cut spending on essentials — groceries and medicine — six percentage points more than in spring surveys. About two‑thirds of pollees have reduced spending on entertainment and dining out and are increasingly turning to borrowing and credit‑card debt. The modest decline in pump prices over recent weeks has been insufficient to offset the prolonged impact of the earlier inflation spike. Fresh memories of previously low prices irritate pollees, and small fuel discounts do not compensate for the overall high cost of living.

Growing economic strains and the escalation of the military conflict with Iran are affecting President Donald Trump’s approval ratings. His net approval has fallen to minus 22 percentage points (40% approve vs. 59% disapprove), the lowest level recorded in his political tracking to date. Meanwhile, 60% of respondents do not support his economic course, 68% disapprove of his approach to fighting inflation, and 63% dislike his actions related to Iran. At the same time, the Democratic Party holds only a slim advantage going into the midterm Congressional elections, as the electorate remains sharply divided.