According to a recent poll, only 24% of Americans—down from 30% last month— reportedly believe that the country’s economic situation is favorable.
Democrats were more likely than Republicans in the latest Associated Press-NORC Center for Public Affairs Research poll to think the economy is doing well, with 41% of Democrats saying as much, compared to just 7% of Republicans.
However, numbers in both parties are down from last month.
According to a recent study, only one-third of Americans are satisfied with President Biden’s handling of the economy, while two-thirds disapprove.
Only 6% of Republicans share Democrats’ 61 percent approval rating of the president’s performance in that area.
Biden’s popularity rating for the economy is somewhat better than those for his handling of immigration and gun control, coming in at 33%.
Additionally, it is less than the 43 percent of respondents who indicated they agreed with how Obama handled student debt.
In addition, 11 percent of Americans say they have great deal of faith in banks and financial organizations, while 31 percent say they have hardly any confidence in the wake of a series of bank collapses earlier this year.
The margin of error for the survey of 1,680 adults conducted May 11-15 was 3.4%.
[READ MORE: Famous Christian Author And Pastor Tim Keller Dead At 72]