What's happening on the main street recently in May 2023?

Let's take a look at the recent indicators for the main street.

The US consumers are expecting higher inflation (3.2%) over a long-term basis and the consumer sentiment index has declined to 57.7.

Both the professional and retail investors are expecting the stocks to suffer this year.

The trucking rate or fee has dropped to 1.49 in May from its peak of 3.01.  This means that the significant drop in the trucking rate is caused by much weaker consumer spendings.

The trucker's rejection rate continues to drop because the truckers can no longer cherry pick their deliveries.

What do all these indicators mean? All these indicators show that the US economy is slowing down and the current high inflation is sustained by the services and not by physical goods.