The CEO’s pessimism came after FedEx missed estimates on revenue and earnings in its first quarter.
"Week over week over week, that came down," Subramaniam said.
The chief executive also said that the loss in volume is wide-reaching, and that the company has seen weekly declines since around its investor day in 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 said."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," he later added.at no cost to help you build long-term wealth and invest smarter.Disclaimer
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