UPS Gain in Overnight Deliveries Shows U.S. Economic Confidence
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Gains in overnight shipments at United Parcel Service Inc. and FedEx Corp., the two largest package-delivery companies, show consumers and businesses are willing to pay for faster deliveries as the economy expands.
Average daily volume for UPS’s next-day air packages “grew at a mid-single digit rate,” overshadowing a drop in ground delivery for the quarter ended March 31 from a year earlier, data from the Atlanta-based company showed yesterday. Such growth in premium overnight air packages is a sign of economic confidence, according to Chief Financial Officer Kurt Kuehn.