THE ONLY PLACE WHERE THERE IS NOT MUCH NEWS
In a week jam-packed with news, the Postal Service stayed out of the news with another week of low volume and middling performance. 86.2% of First-Class letters were delivered on time, which is what they have been averaging for the last couple of months. First-Class flats were awful, with only 16% delivered on time. We always kind of dismiss First-Class flats for low sample volume, but the consistency with which they have been terrible, combined with anecdotal reports really is beginning to worry us. Maybe it is the removal of FSS equipment that disproportionately impacts First-Class flats, but whatever the cause, it is just not working.
Marketing Mail was a touch worse, but still performing solidly.
The Houston area showed delayed deliveries due to storm-related issues.
We expect volume to pick up in August along with a lot of facility changes – so stay tuned.
