Voters love the economy, but it has failed to translate into higher approval for President Donald Trump, according to one new poll.

The disconnect is perhaps the biggest challenge facing Republicans as they battle to keep control of Congress in November.

Seventy percent of voters describe the U.S. economy as "excellent" or "good" in a new Quinnipiac University poll, matching the survey's all-time high. But the strong outlook on the economy has not lifted Trump. Only 38 percent of voters approve of the job he is doing, versus 54 percent who disapprove, according to the survey.

The reading could spell bad news for the GOP, which has primarily touted the strength of the economy as it tries to defend a House majority in this year's midterms. Voters appear convinced that the economy is strong, but a majority of voters either do not associate it with Trump, the Republican Party's leading figure, or disapprove of the president for other reasons.

"The economy booms, but President Donald Trump's numbers are a bust. An anemic 38 percent approval rating is compounded by lows on honesty, strength and intelligence," Tim Malloy, assistant director of the Quinnipiac University Poll, said in a statement.

A separate CNN/SSRS poll released Monday found a poor approval rating for Trump despite good feedback for how he handles the economy, specifically. Only 36 percent of Americans approve of the job the president is doing, down from 42 percent in August. It comes despite 49 percent of respondents saying they approve of how he is handling the economy, which remained steady in July, August and September.