Not to be confused with the three-day rolling average which hit 39% yesterday.

PRINCETON, NJ — President Obama’s job approval rating dropped to 40% during the week spanning Aug. 8–14, the lowest weekly average of his administration. During this period, Obama’s three-day rolling average also hit a new low of 39% for Aug. 11–13, the first such average below 40% since he took office, though it recovered to 41% for Aug. 12–14.

Obama’s weekly average was 42% for the two weeks prior to last week, which at that time also marked new lows for his administration. His lowest three-day average prior to Aug. 11–13 had been 40%.

With the exception of a dramatic national or international event, it is usually difficult to pinpoint the causes for the short-term ups and downs in a president’s job ratings. In the current situation, it is reasonable to assume that several events of the last few weeks have played a part in depressing the public’s approval of Obama. These include the widespread public disapproval of the way Washington handled the debt crisis, a substantial drop in the public’s confidence in the economy, and last week’s gyrations in the stock market.