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While official data showed the British economy shrank more than expected in the fourth quarter, raising concern about another recession, a closely followed business confidence index in Germany beat economists' forecasts for January, a sign that Europe's largest economy is improving.
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And a few reduced their forecasts for March job growth after seeing the two reports.
Analysts said forecasts for May were especially conservative as retailers braced for disappointing news.
The data led some economists to raise their forecasts for December job growth one day before the Labor Department releases its closely watched employment report.
Atari has been coping with greater-than-expected competition, which has prompted it to reduce its forecasts for December sales and 2005 revenue.
But the market also advanced on a better-than-expected report on first-time jobless filings and a jump in share prices for the retail stores that topped forecasts for June sales.
Bernanke specifically noted Fed forecasts for June, which were already revised down significantly from April, had not incorporated recent data, particularly last Friday's dismal employment report.
A reduction in stockpiles may prompt economists to cut their growth forecasts for the April-June quarter.
But the weather forecast for Nov. 12, the date he had chosen, called for rain.
BRAD DELONG links to the latest WANTED forecast for September payroll numbers.
Although it has cut its forecast for March-May to +0.7%, from + 0.9%.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com