United Parcel Service cuts its 2012 forecast on weak growth overseas


AP

NEW YORK — UPS sees a tough road ahead for the global economy. The world’s largest package delivery company is more pessimistic about global growth than many economists. It predicts global trade will grow even slower than the world’s economies — a trend not seen since the recession. It’s making cuts in its business and reducing its earnings projections.

UPS on Tuesday lowered its forecast for all of 2012 and said its third-quarter earnings will fall below last year’s results.