FedEx is a barometer for the economy
The company was out with earnings. They're not as good of a barometer of business because internet commerce as a secular phenomenon will drive their growth despite a lackluster economy but their forecasts are still interesting.
- See 2015 at 2.4% vs 2.5% previously
- See 2016 growth at 2.6%, led by consumer spending
- See 2015 industrial production +1.5%
- See 2016 industrial production +1.9%
- Leaves global growth forecasts unchanged at 2.5% this year and 2.8% in 2016
- Continues to see moderate growth in US economy
The FedEx forecasts are more rosy than the Fed forecasts released today.
