USPS loses $611 million, mail volume drops 4.8% in February

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Washington, D.C.—The U.S. Postal Service posted a net loss of $611 million in February, according to the Postal Regulatory Commission. For the first five months of its fiscal year, the USPS has had a loss of $1.5 billion.

Mail volume for the month was down 4.4%, to 12.9 billion pieces, compared with 13.5 billion pieces in the year-ago period. The largest volume losses came in package services (down 10.1%) and periodicals (down 5.1%). But standard mail, the type used most often for commercial mailings, gained 0.2% in volume, to 6.2 billion pieces.

Earlier this week, the Postal Service's board of governors approved a USPS request to eliminate Saturday mail delivery as a way to reduce expenses. Next week, the USPS is expected to present its plan.

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