As the country's major shipper, FedEx is widely regarded as a strong bellwether for the American economy as a whole. The logic is that if shipping goes down, it can be assumed that business is going down as well. For a similar reason, Warren Buffett watches the railroad industry as an economic indicator. FedEx is just one company, though, and when it comes down to it, nobody is very good at forecasting the economy -- so take this news with a grain (or boulder) of salt.
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