Paychex-FedEx Offer Barometer for Second-Quarter Growth
This article is for subscribers only.
Paychex Inc. and FedEx Corp. may provide an early read on how the economic expansion is faring when they release quarterly results later this month.
Data from the two companies are “like a weather vane” of U.S. health for investors such as Lawrence Creatura at Federated Investors Inc. Paychex’s checks per payroll can help track changes in employment, while FedEx’s U.S. shipment volume indicates “the velocity of industrial production,” he said.