The shipping carrier is calling out a growing trend that speaks volumes about the current state of the industrial economy.

FedEx said a weaker industrial economy produced a “challenging” quarter that caused it to trim its outlook for later this year, a sign of possible cooling in the wider economy.

FedEx reported a lower first-quarter profit on Thursday as demand in the package industry remained muted, especially for priority services.

In trading on Friday, shares of FedEx crossed below their 200 day moving average of $267.52, changing hands as low as $255.40 per share.