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UPS CFO Doesn't Change Earnings Forecast

UPS CFO Doesn't Change Earnings Forecast

While the finance chief of United Parcel Service Inc. (UPS) admitted recently that he believes the economy may continue to be "subpar" through 2012, the CFO did not adjust the company's full-year earnings forecast.

According to Bloomberg, UPS CFO Kurt Kuehn said at a recent investor conference in Louisville, Kentucky, that despite the fact that there has not been much evidence supporting economic improvement, there are no signs that it is getting worse.

"Hopefully, a lot of things have bottomed out, real estate being one," Kuehn said at the conference. "We see a slowly rising economy in 2012 and hopefully back up to more normal trend growth starting in 2013."

Kuehn's thoughts are closely monitored as UPS's shipments are typically looked to as a bellwether for the economy as a whole, the news source said.

Echoing the statements of the UPS CFO recently was General Electric CEO Jeff Immelt, who said at an event in New York that he has witnessed "good, decent economic growth everywhere," The Wall Street Journal reported.