Economics
FedEx Overnight Shipments Back Fed View of Slower U.S. Growth
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FedEx Corp.’s shipments in the U.S. reinforce projections that it will take time for the economy to return to pre-recession levels of output.
Average daily volume at the company’s domestic express delivery unit totaled 1.792 million envelopes and boxes in the quarter that ended Aug. 31. While up 2.6 percent from the same three months a year ago, shipments were little changed from the two prior periods and down 5.9 percent from the pre-recession peak in the fourth quarter of 2005.