American optimism on the economy is reaching new heights and President Donald Trump‘s approval ratings look to be benefiting, at least somewhat.
The CNBC All-American Economic Survey found that for the first time in at least 11 years, more than half of respondents to the survey rated the economy as good or excellent, while a near record 41 percent expected the economy to improve in the next year.
“We’re not measuring a marginal change in the economy, we’re measuring a different economy,” said Public Opinion Strategies’ Micah Roberts, the Republican pollster for the survey. The poll of 800 adults across the nation, with a margin of error of 3.5 percentage points, was conducted Dec. 10-13 by that firm and Democratic pollster Hart Research.
The survey found that 42 percent of Americans expect their wages to rise in the next year, and 41 percent of homeowners see their home values going up, the highest level recorded since 2007. In 2011, while the country remained in an economic funk from the financial crisis, just 15 percent of homeowners thought their home prices would rise.
“2017 is the year that Americans finally put the recession behind them in terms of their attitudes about the economy, and it took a change in leadership” to make it happen, said Roberts.
Trump’s approval rating has mostly been disconnected from the better economic data but that could be changing. With gross domestic product rising strongly the past two quarters and the unemployment rate remaining low, Trump’s approval rating has jumped.
Forty-two percent in the poll approve of the job Trump is doing as president, up 4 points from the September survey, while 49 percent disapprove, down 3 points. The president’s net negative rating of minus 7 (approval minus disapproval) is half of what it was in the summer and his best showing since taking office but still weak for such a strong economy.