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Postal Service Loss Grows as First Class Mail Declines

The U.S. Postal Service, which predicts that by the end of September it will be unable to make health-benefit payments for future retirees, said its first-quarter loss widened as first-class mail volumes declined.

The loss widened to $329 million in the three months ended Dec. 31 from $297 million a year earlier, the Postal Service said in a statement today. Revenue fell 3.3 percent to $15.3 billion.