Not sure that indicates a recession.
In my town of about 25K UPS, Amazon and FedEx trucks were seen in my apt complex (20 units) at least 3 times per week.
Shippers used to use USPS, but they seem to use the postal delivery less.
Amazon, FedEx and USPS even make Sunday deliveries.
For the quarter ended on November 30th, FedEx reported revenue dropped almost 3% YoY to $22.2 billion. However, net income rose 14% YoY to $898 million. Adjusted earnings rose 23% to $1.01 billion or $3.99 per diluted share, 19 cents short of LSEG’s estimate. Both revenue and earnings missed analyst estimates.
Operating income tanked 60% at its air-based Express unit, partly owed to the falling volume from the U.S. Postal Service. U.S. Postal Service has been shifting more packages from higher-margin air services to their more economical ground alternatives. Operating income at FedEx’s Ground division, known for delivering packages from Walmart (NYSE: WMT), rose 51%.