Although Duterte generally remains popular, the survey outcome immediately reignited calls by several groups for an end to the killings of mostly poor suspects under his brutal crackdown against illegal drugs and for him to sign a bank secrecy waiver to allow an investigation into allegations of undeclared wealth.
An alliance of civil society groups called Tindig Pilipinas said the steep drop in Duterte's satisfaction and trust ratings means the "honeymoon is over".
"The huge drop in the president's rating must serve notice to him: the people expect nothing but the truth on the allegations of corruption, ill-gotten wealth, and drug smuggling facilitation levelled against him and members of his family," the alliance said.
"Mr President, we reiterate our call: sign the bank waiver!"
The people are seeing through the hype and fake news, and are realising that change is not coming under President Duterte's watch, said left-wing Representative Emmi de Jesus, citing "nonstop" drug killings, the rise in prices of commodities and the entry of a large shipment of illegal drugs through the Bureau of Customs in Manila.
There was no immediate comment from Duterte, but he has repeatedly denied that he condones extrajudicial killings of drug suspects even though he has publicly threatened drug dealers with death.
Duterte has also denied stashing undeclared funds in joint bank accounts with family members, saying he would resign if the allegations were proven.
He has refused, however, to heed a demand by opposition Senator Antonio Trillanes IV for him to sign a waiver to allow investigators to examine the bank accounts.