Gallup: Obama's Economic Approval Rating Down to 35 Percent

President Barack Obama's approval rating on economic issues dropped sharply to 35 percent from 42 percent in June, according to a Gallup poll.

While the August rating is on the low end of what Gallup has reported since the beginning of 2012, it remains far above Obama's low mark of 26 percent in the summer of 2011.

"Obama in turning to economic matters . . . has his focus in the right place," writes Gallup's Lydia Saad. "But until the economy makes more impressive gains, ultimately reflected in improved economic confidence, Americans may not reward him with higher approval."

The president's overall approval rating dipped to 44 percent in the Aug. 7-11 survey, down from 47 percent in June.

In other areas, the survey of 2,059 adults found that Obama's approval rating on tax issues now sits at 36 percent, or five points lower than it was in June; on his handling of the budget deficit, his approval rating stood at 26 percent, down from 31 percent; his approval rating on dealing with terrorism stood at 50 percent, down from 53 percent; on foreign affairs in general, his approval rating was 40 percent, three points below his June rating; on immigration, it fell one point in the August survey to 39 percent; and on health care, his approval was 39 percent, compared to 40 percent in June.