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The US economy has reached a "turning point," FedEx Corporation's chief executive said, as the company reported a bump in holiday shipping. The optimism was tempered somewhat as the package-delivery giant issued a subdued outlook for the current quarter, Dow Jones reported.
The Memphis, Tenn, company shipped 14.1 million packages on Monday, considered the peak day for mailing holiday goods. The figure was a million higher than expected and up 17 percent from the busiest day last year.
December volume growth indicates that "global economic conditions are improving," chairman and chief executive Frederick Smith said after the company reported a 30 percent drop in profit.
Chief financial officer Alan Graf said the company is starting to emerge from "the worst economic downturn in FedEx history."
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