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Still, some producers have revised their earnings and dividend forecasts downward in recent months.
Though the bank revised its growth forecasts downward, the new figures were less pessimistic than some analysts expected.
The IMF has become markedly more bearish on emerging economies since October, revising its forecasts downward by an average of a percentage point.
Analysts and newspaper executives find themselves revising their forecasts downward every few months, unable to gain a stable footing on a sinking floor.
The city was quick to revise its forecasts downward; since then, some taxes have come in stronger than expected and others weaker.
Wall Street analysts are now revising their economic growth forecasts downward and warning that the Chinese central bank's refusal to alleviate commercial banks' cash shortages by pumping more money into the economy could lead some smaller banks to default.
Similar(46)
In November, its Japanese rival, Panasonic, revised its annual sales forecast downward by 700 billion yen.
Like many blue-chip companies, it has revised its 2008 pretax profit forecast downward — to 58 billion yen (about $630 million) from 66 billion yen.
OTTAWA — After revising its financial forecast downward, Nortel Networks, the telecommunications equipment maker, said Wednesday that it would make further cutbacks in its already much-reduced operations and that it planned to sell an operating unit it had promoted as a key to its future.
But the market research firm is considering revising that forecast downward due to lack of growth drivers.
The researcher has just revised its social net ad spend forecast downward, with Facebook expected to attract $265 million in 2008, down 12.9% from the earlier forecast of $305 million.
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