Economy Sinking Into Worldwide Recession As FedEx Says Shipments Slowing

by Kit Daniels September 16th 2022, 2:45 pm

The CEO of FedEx expects the world economy will soon enter a recession because there’s a slowdown of global shipments.

Raj Subramaniam said FedEx has seen weekly declines in shipments since June.

“We’re seeing that volume decline in every segment around the world, and so you know, we’ve just started our second quarter,” he told CNBC. “The weekly numbers are not looking so good, so we just assume at this point that the economic conditions are not really good.”

“…We are a reflection of everybody else’s business, especially the high-value economy in the world.”



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