Donald Trump’s net approval is up a little after a slump to a term low on November 23, as Republicans hold a federal seat at a special election. In Australia, Labor continues to hold large leads in federal polls, but received just 8.3% at the Hinchinbrook Queensland state byelection.

In analyst Nate Silver’s aggregate of United States national polls, Trump’s net approval is -13.5, with 54.8% disapproving and 41.3% approving. His net approval fell from -7.6 on October 20 to a term low of -15.0 on November 23. Since then, he has gained 1.5 points.

Trump’s net approval on the four issues tracked by Silver is -7.0 on immigration, -16.7 on trade, -19.8 on the economy and -32.5 on inflation. His net approval on the economy and inflation have both dropped since late October, with a slight recent rebound. On immigration, his net approval has dropped steadily since October.

Silver has historical ratings for presidents since Harry Truman. Trump’s net approval is only ahead of Trump’s own first term at this stage of past presidencies. Joe Biden’s net approval was the next weakest.

In November 2026 all 435 House of Representatives seats and one-third of the 100 senators will be up for election at midterm elections. In Fiftyplusone’s aggregate of the generic ballot, Democrats lead Republicans by 4.2 points, a slight gain for Democrats since October.

The benchmark US S&P 500 stockmarket index had slumped 5.1% from its October 29 peak on November 20, but has rebounded strongly to just 0.9% below its peak. Stockmarket gains may explain Trump’s modest ratings recovery.

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