Although almost two-thirds of Americans still say current economic conditions are good, a new CNN poll shows the first significant drop in perceptions since President TrumpDonald TrumpTrump criticizes Justice for restoring McCabe's benefits Biden: Those who defy Jan. 6 subpoenas should be prosecuted Hillicon Valley — Presented by LookingGlass — Hackers are making big money MORE's election.
In the poll, 65 percent of respondents rated economic conditions as somewhat or very good, a 5-point drop from May.
Perception of the economy had steadily increased since Trump's inauguration, when 57 percent of respondents said conditions were good.
SSRS surveyed 1,001 American adults for CNN between Aug. 15 and 18 using a mix of landline and cell polling. The margin of error is 3.7 points.
The dip in Americans' perception of economic conditions comes amid mounting concerns of a coming recession.
Trump has struggled to reach a trade deal with China and last week agreed to delay certain tariffs on Beijing that might have hurt American consumers. His reversal was seen as a sign of Trump’s own uncertainty about the economy.
Economists were also alarmed last week when yields from short-term bonds exceeded long-term investments, which is seen as an indicator of a future recession.
The White House has projected confidence over the economy while blaming Democrats, the Federal Reserve and the media.