American optimism on the economy is reaching new heights and U.S. President Donald Trump's approval ratings look to be benefiting, at least somewhat.
The CNBC All-American Economic Survey found that for the first time in at least 11 years, more than half of respondents to the survey rated the economy as good or excellent, while a near record 41% expected the economy to improve in the next year.
The survey found that 42% of Americans expect their wages to rise in the next year, and 41% of homeowners see their home values going up, the highest level recorded since 2007. In 2011, while the country remained in an economic funk from the financial crisis, just 15% of homeowners thought their home prices would rise.
Trump's approval rating has mostly been disconnected from the better economic data but that could be changing. With gross domestic product rising strongly the past two quarters and the unemployment rate remaining low, Trump's approval rating has jumped.
In all, 42% in the poll approve of the job Trump is doing as president, up four points from the September survey, while 49% disapprove, down three points. The president's net negative rating of minus seven (approval minus disapproval) is half of what it was in the summer and his best showing since taking office but still weak for such a strong economy.
The president has made the best strides with members of his own party, up 10 points from last quarter to an 83% approval rating. White men and women and people in the South and Midwest give the president net positive approval ratings, but he is underwater with every major income and educational demographic in the poll.
