The FedEx Recession Warning That Everyone Is Talking About

This chart comes courtesy of Bloomberg Economic Briefs, and we can confirm that it’s been getting a lot of buzz.

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Federal Express Cuts 2013 Profit Forecast on Economy, Fuel     FedEx Corp., an economic bellwether as operator of the world’s largest cargo airline, reduced its profit outlook for the second time this year, citing a slower economy. The shipper said its “2012 U.S. GDP growth forecast is 2.2 per cent and 1.9 per cent for calendar year 2013, which is 0.5 points lower than our fourth-quarter earnings forecast.” “Exports around the world have contracted and the policy choices in Europe, the U.S. and China are having an effect on global trade,” Fred Smith, chief executive officer of the company, said. The company’s ground-delivery business in the U.S., which offers a less expensive alternative to air delivery, posted a sales increase of 7.9 per cent to $2.46 billion.  — Richard Yamarone, Bloomberg Economist

fedex recession

Photo: Bloomberg Economic Briefs

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