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"forecast is based on" is a correct and usable phrase in written English.
It is typically used to introduce the factors or information on which a forecast or prediction is based. For example: - The weather forecast is based on data collected from various weather stations. - Our sales forecast is based on market trends and customer surveys. - The economic forecast is based on the current state of the stock market and unemployment rates. - The political forecast is based on polling data and expert analysis. Overall, "forecast is based on" is a useful phrase to use when explaining the reasoning or evidence behind a forecast or prediction.
Exact(40)
The new forecast is based on an analysis of one trillion visits to over 4,500 retail sites and 55 million SKUs, the company says.
First the two scenarios: The consensus forecast is based on the Blue Chip survey and the Survey of Professional Forecasters, as of February.
Correct: The forecast is based on parameters like inflation and interest rates.
But a closer inspection shows that the Rutgers report's doomsday forecast is based on selective use of census data.
The forecast is based on a US market recovery which would see sales of 12.5m units next year, 14.5m in 2010 and 15.5m in 2011.
His higher 2016 price forecast is based on the idea that the US dollar will soften and emerging market demand will improve later this year.
Similar(17)
The forecast was based on the median of 29 estimates in a Bloomberg News survey.
Even that forecast was based on prices slightly lower than they are now.
In an interview, Richard D. Parsons, Time Warner's chief executive, said the company's forecast was based on careful analysis of data.
However, Andy Wightman, the party's expert on land reform and a Holyrood candidate in Edinburgh and the Lothians, confirmed that this £490m forecast was based on current council tax revenues.
While he declined to provide specific projections, Mr. Köhler said his optimistic forecast was based on his conclusion that the economic fundamentals in the United States and many other nations are more resilient than they have been in past crises.
More suggestions(16)
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com