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Only 49 percent of respondents to a CSA-Les Echos poll said they had confidence in Hollande's leadership, a fall of 5 points from last month.
Those who said they had no confidence in the Socialist president just over 100 days into his term, made up 47 percent of those polled, with 4 percent undecided.
It was the second poll in August to reflect the uphill challenges facing Hollande in tackling domestic problems such as high unemployment and a stagnant economy, while finding ways to restore euro zone confidence by slashing 33 billion euros from next year's budget to meet crucial deficit targets.
An Ifop survey published on Aug. 11 indicated an approval rating for Hollande of 46 percent, far below the 61 percent rating he garnered within a month of his election in May, according to Ifop.
On his first week back after a short holiday, Hollande is grappling with criticism from the opposition, as well as some on the Left, for what some say is weak handling of the economy.
Hollande, who branded himself during the campaign as "Mr Normal," has not benefitted from the post-electoral bounce enjoyed by his predecessor Nicolas Sarkozy in 2007.
Sarkozy's approval rating climbed to 65 percent in the weeks after his May 2007 election and later began to slide, but only slumped to below 50 in early 2008.
Adding to Hollande's problems was a bout of rioting in the northern city of Amiens last week that had disturbing overtones of country-wide unrest in 2005, when marshal law was declared.
Opposition figures have also criticized the government's recent dismantling of Roma encampments, saying that Hollande is disingenuous in following the same law-and-order strategy as Sarkozy, while hiding behind a gentler facade.