United Parcel Service Inc. said Monday that it would raise rates by a net 4.9 percent starting Jan. 3.

UPS, the world’s largest package delivery company, said the net increase was for ground packages, all air express and U.S. origin international shipments.

On Sept. 29, FedEx, the world’s largest cargo airline, said shipping rates through its Express division and International Priority service would go up 3.9 percent on average starting Jan. 3.

UPS and FedEx are considered indicators of U.S. economic activity as their business expands or shrinks with the broader economy.

In reporting third-quarter profits, Atlanta-based UPS said in October that it expected a slow economic recovery without a double-dip recession.

“That they’re able to push across these rate increases for next year means they at least see a steady demand environment,” said Kevin Sterling, a transportation analyst at BB&T Capital Markets