KBTX - Money - Headlines

Postal Service Continues to Lose Money

By: AP
By: AP

WASHINGTON (AP) - The Postal Service said Friday it lost $3.1
billion in the April through June period.

That brings losses for the year to $5.7 billion, and the agency
could be forced to default on payments due to the federal
government at the end of the fiscal year in September.

Losses by the post office have been mounting over the last few
years as more private mail and bill payments were switched to the
Internet, and the recession caused a reduction in the volume of
business mail.

In the three months from April through June the post office
handled 39.8 billion pieces of mail. That's 1.1 billion fewer items
than in the same period a year ago.


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