FedEx sees global slowdown, cuts profit outlook - Yahoo
FedEx Corp. says consumers are putting off purchases of electronics and other gadgets from China, another example of the global economic slowdown that's prompting fears of another recession.
The slowdown prompted the world's second-largest package delivery company to lower its earnings expectations for the fiscal year that ends in May. But while anxiety over the economy created a rout in the stock markets, and its own shares, FedEx isn't yet ready to predict another recession in the U.S.
FedEx's larger rival United Parcel Service Inc. said last week that it thinks another recession is unlikely, although it warned of a "bumpy ride" for the global economy.
FedEx Corp. says consumers are putting off purchases of electronics and other gadgets from China, another example of the global economic slowdown that's prompting fears of another recession.
The slowdown prompted the world's second-largest package delivery company to lower its earnings expectations for the fiscal year that ends in May. But while anxiety over the economy created a rout in the stock markets, and its own shares, FedEx isn't yet ready to predict another recession in the U.S.
FedEx's larger rival United Parcel Service Inc. said last week that it thinks another recession is unlikely, although it warned of a "bumpy ride" for the global economy.
