The phrase "despite initial forecasts" is correct and usable in written English.
It can be used to indicate that something occurred contrary to what was predicted or expected at the beginning.
Example: "Despite initial forecasts predicting a decline, the company's profits actually increased this quarter."
Alternatives: "in spite of early predictions" or "regardless of initial estimates".
Despite initial forecasts, the cyclone failed to strengthen further due to interaction with Madagascar.
Despite initial forecasts of a Miami, Florida landfall, the hurricane turned to the north-northwest just before landfall to strike near West Palm Beach, Florida on September 3.
Weakening rapidly while crossing the island for a third time, the cyclone emerged into the southwest Indian Ocean as a tropical depression by 0000 UTC on February 4. Despite initial forecasts of re-intensification, Elita accelerated southeastward and lost its remaining convection, leaving its center exposed under the influence of a strong upper-level trough.
Despite promising initial forecasts for the UK and Denmark, as well as for Italy, Spain, West Germany (Bohk and Rau 2014), and the USA (Bohk and Rau 2016), our model will be further validated in a next step.
The company had, till three months ago, backed its initial forecasts for Wii U sales despite setbacks in markets such as the UK.
Nationally, enrollment via the marketplaces has lagged initial forecasts.
More likely, it would contend that its initial forecasts were too conservative.
22 predominantly Republican states have declined this expansion, so participation is below initial forecasts.
The initial forecasts of damage to the auto industry were too optimistic, said Hajime Yamamoto, the Thailand director of IHS Automotive, an automotive market forecasting company based in Detroit.
CCS Insight, a technology research group, says sales have fallen 40% behind initial forecasts.
Initial forecasts about the imminent decline of US shale surfaced as early as October last year.
