A majority of US voters say their financial situation has deteriorated since US President Donald Trump returned to office, a new Financial Times poll has shown, as economic frustration grows less than three months before the November midterm elections.

The survey, conducted by Focaldata, found that more than 53% of registered voters believe they are financially worse off than they were when Trump began his second term in January 2025.

Economic dissatisfaction also extends beyond Democratic voters. Nearly 57% of independents said their finances had worsened, while almost one in four Republicans expressed the same view.

The results come as the Trump administration faces mounting pressure over inflation, the cost of living, and the economic consequences of the ongoing US war on Iran, which has contributed to higher energy prices and broader increases in consumer costs.

Democrats gain ground on economic issues

The survey found Democrats gaining an advantage on several issues traditionally regarded as political strengths for Republicans.

Respondents were more likely to trust Democrats than Republicans to manage inflation and the cost of living, while the Democratic Party also held an edge when voters were asked which party they trusted more on jobs and the broader economy.

Nearly two-thirds of registered voters said the US economy was moving in the wrong direction. That assessment was shared by more than two-thirds of independents and more than one-third of Republicans.

Only about a quarter of respondents said they believed the economy was heading in the right direction.

Recent economic indicators have added to concerns over household finances. Although inflation slowed somewhat in July following a decline in fuel prices, the annual rate remained at 3.4%, higher than when former President Joe Biden left office.

Separate data released Friday showed consumer sentiment falling sharply toward a historic low as elevated prices forced households to cut spending. Government figures also showed a decline in real wages during the previous month.

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