Gallup poll finds economic confidence up, Biden approval down after election

President Biden’s job approval rating has dropped to 37% and more Americans are optimistic about the economy since the Nov. 5 election, according to Gallup polling released Tuesday.

The polling company reported that 36% of adults responding to a survey this month “believe the economy is getting better,” up from 32% in October, and fewer rate the economy as “poor.”

At the same time, just 22% of survey participants expressed satisfaction with the direction of the nation in the waning days of the Biden administration, down from 26% before Election Day.

Gallup cited increased optimism among Republicans and deepening despair among Democrats as reasons for the shifts. It’s the first time the company has polled the issues since former President Donald Trump won the election against Vice President Kamala Harris, his Democratic opponent, and the Republican Party swept into control of Congress.

“Republicans’ views about national conditions are likely to become increasingly positive in the coming months, while Democrats’ opinions will likely sour,” Jeffrey M. Jones, Gallup’s senior editor, wrote in a summary of the findings. “Once Trump and the Republican Congress are installed in their offices in early 2025, Republicans’ assessments of the economy, state of the nation and federal leaders are expected to surpass those of Democrats.”

Meanwhile, opinions of the outgoing president have plunged to nearly the lowest point in his four-year term.

Mr. Biden’s job approval rating fell this month from 41% before the election and hovered just one point above the previous low, which Gallup recorded in July before he dropped out of the presidential race and endorsed Ms. Harris as his successor.

According to Gallup, Americans gradually soured on the outgoing president and the economy as living prices soared under his administration.

Mr. Jones noted that this month’s survey found fewer Republicans, Democrats and independents naming “economic issues as a whole — including the economy in general, inflation and others, like the federal budget deficit” as the biggest problem facing the nation ahead of Mr. Biden’s departure.

Gallup conducted a randomized national telephone survey of 1,001 adults on Nov. 6-20. The margin of error was plus or minus 4 percentage points at the 95% confidence level.