Trump Hat And Portrait New York Stock Exchange
A picture of President Donald Trump and a Trump hat on show on the New York Stock Exchange (NYSE) floor in December 2024 in New York City. GETTY IMAGES

President Donald Trump urged voters to back him and the so-called "Trump candidates" in the upcoming midterm elections, citing his administration's apparent economic success as a reason to vote Republican in November.

"The American People elected me to deliver HISTORIC Economic Results, and now, I have a new responsibility, reporting our incredible results because the Fake News refuses to do it." Trump claimed on Truth Social

"S&P Global reported this week that U.S. Business Growth is at its HIGHEST LEVEL IN MORE THAN FIVE YEARS ... And there's more: U.S. REAL MEDIAN HOUSEHOLD INCOME is now the HIGHEST EVER RECORDED. The United States Poverty Rate is at its LOWEST LEVEL ON RECORD", Trump continued.

Although Trump did not specify which outlets he was referring to, the jibe was likely aimed at organizations such as CNN, which the president has often demonized as "fake news". CNN published a piece on Census Bureau poverty and median income figures on September 15th.

"Just look at the Numbers — THE BEST IN HISTORY. VOTE FOR REPUBLICAN AND "TRUMP" CANDIDATES IN THE MIDTERMS." Trump implored voters.

The stats behind the claims

Flash PMI data from S&P Global released on Wednesday showed that U.S. business growth accelerated to its fastest rate in 62 months, just over five years, this September, with the headline index rising from 56.0 in August to 58.4 this month. As a result, employment also rose in September at its fastest rate since June 2022.

According to the U.S. Census Bureau, real median household income was $87,460, the largest value recorded since records began in 1967. Despite this historic peak, U.S. consumer sentiment is in freefall, hitting a four-month low in September, according to the University of Michigan's monthly consumer survey.

The survey attributed these negative feelings, in part, to "renewed worries that elevated fuel prices and re-escalating trade disputes could pass through the economy as a whole".

U.S. fuel prices have spiked as hostilities between the U.S. and Iran have re-escalated, and the U.S. remains embroiled in an escalating trade war with Canada as well as long-running trade disputes with Mexico and China.

Concerns about the economic impact of these international relations is likely driving the discrepancy between widespread negative feelings amongst consumers about their financial situations and the increasing median household income.

Census data also showed that U.S. poverty levels fell to a record low of 10.2% in 2025, but the Supplemental Poverty Measure, which takes into account taxes, work and medical expenses and several government benefit programs, stayed static relative to its 2024 figure, remaining at 13.1%.

Despite these largely positive figures, polls show that over half of voters disapprove of Trump's handling of the economy and his approval ratings are tanking to the lowest levels of his political career with less than two months before the midterms.

This widespread unpopularity may explain the urgency of his social media message and emphasis on positive economic data.