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Biden's Approval Rating Hits New Low


President Biden's approval rating has hit 37.6%, matching a record low approval rating of his presidency he experienced in July 2022, according to FiveThirtyEight.

  • The latest cratering of approval comes off the back of TIPP survey which found, "President Biden's job approval ratings declined from 39% in November to 33% in early December, marking a new 35-month low."
  • Despite Biden's cratering approval, betting markets see the 2024 presidential election tightening slightly. According to data from Smarkets, Trump remains the slight favourite although by the narrowest margin (3%) since November 11. Biden's bump likely comes off the back of a strong GDP report last week which saw GDP rise at a 5.2% annualised rate in Q3, revised up from 4.9%.
  • Biden said in a statement last week: "Our actions have mended supply chains and helped bring inflation down to its lowest level in two years."

Figure 1: President Biden Approval Rating

Source: FiveThirtyEight

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