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FedEx Express to Raise Shipping Rates

FedEx Express

, a unit of


(FDX) - Get FedEx Corporation Report

, will increase its rates by an average of 4.9% for shipments within the U.S. and 2.9% elsewhere starting Feb. 1.

The company said the increase is the first since last year. The express shipping company said customers can get customized rates quotes on its rate guide Web site.

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Shares of FedEx gained 35 cents, or 0.9%, to $38.50 in recent

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Earlier this month, FedEx indicated that the slowing economy was dampening its

outlook, before reporting

second-quarter earnings that met expectations.