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Wednesday, March 12, 2008

UPS Cautions on Negative Trends

by Calculated Risk on 3/12/2008 11:57:00 AM

From Reuters: UPS says Feb volumes down, could hurt earnings

Citing worsening economic conditions package delivery company United Parcel Service ... said on Wednesday its U.S. volumes were down in February ...

Atlanta-based UPS said that while U.S. volumes declined virtually across its "entire customer base" in February, its international volumes, including U.S. export volumes, continued to show strong growth.
A couple of comments: The shippers (like UPS and FedEx) are usually pretty decent coincident indicators of economic activity. That is the bad news. The good news is international shipping and export volumes (because of the weak dollar) are strong.