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Bellwethers – FedEx, considered a bellwether for the economy | Grubb & Ellis | Wausau Wisconsin

Bellwethers – FedEx: Bellwethers – FedEx, considered a bellwether for the economy, yesterday reported strong results for its fiscal fourth quarter ending May 31st. The company made a profit of $419 million or $1.33 a share on revenues of $9.43 billion, up by 20 percent from the year-ago quarter. FedEx forecasted earnings for its new fiscal year of $4.40 to $5 a share. Notably, it reported no slowdown in its European business despite the financial turmoil and economic concerns clouding the outlook for the region.

Another bellwether, the Conference Board’s index of leading indicators rose 0.4 percent in May while April’s reading was revised from -0.1 percent to flat – so no sign of a double-dip recession.

Have a great weekend.

Source: Robert Bach ,  SVP, Chief Economist , Grubb & Ellis , 312.698.6754

Personal Note From Ark:

For those of you who are receiving “Good News Friday” for the first time, and those who have been right along, approximately a year ago Robert Bach, Senior VP, Chief Economist of Grubb & Ellis, started writing GNF to help readers find GOOD in the economy.  Some days it has been a little difficult for him.  But all-in-all he has been able to share good news with us.   With permission, I have picked this up and have been forwarding GNF on to my friends and business contacts for about year now.  I have received positive feedback from many of you.  I hope to continue this service and that you continue to enjoy and gain from it. 

If you would like to receive Good News Friday, please feel free to contact me direct at [email protected] and I will place you on the distribution list.

Thank you for allowing me into your office,

 Ark Rhowmine

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