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NEW YORK (
) -- Is the slowdown at
(FDX - Get Report)
a sign of a slowing economy or just problems at FedEx? That was the question Debra Borchardt posed to Jim Cramer at
Cramer said there is clearly a slowdown in worldwide commerce as people and business are just shipping less these days. That's why policymakers around the globe are in a frenzy because they see the weakness building.
But when it comes to FedEx and rival
(UPS - Get Report)
, Cramer said both companies didn't see this slowdown coming and were too optimistic for a quick recovery. He noted that FedEx is not tied to housing or autos, the two sectors that are driving much of U.S. growth at the moment.
Cramer also posited that perhaps
is partially to blame because the mail-order giant is building more and more warehouses closer to their customers, causing less demand for next-day deliveries and more demand for ground deliveries that arrive in the same timeframe.
Watch the full Cramer interview
--Written by Scott Rutt in Washington, D.C.
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