Postal Service loses money despite customer growth

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Associated Press

Posted on April 8, 2013 at 2:02 PM

Updated Monday, Apr 8 at 3:22 PM

WASHINGTON (AP) — What business gets more customers every year, yet keeps losing money?

It's the U.S. Postal Service.

The agency delivers mail to 11 million more homes, offices and other addresses than it did a decade ago — even as the amount of mail people in the United States receive has fallen sharply.

The number of new addresses had been rising by roughly 2 million almost every year since 1989. But that was cut in half to 1 million or less during the recession and housing crisis this decade.

With the economy improving, the constant march upward in the number of places the postman has to travel is expected to accelerate.

At the same time, total mail volume is declining. Analysts say that combination could be financially dicey for the Postal Service.

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