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report, without making forecasts, said that productivity and confidence in the consumer and business sectors were the keys to the future of the United States economy.
Kohl's, which also missed forecasts, said that though the company had "improved performance" over Thanksgiving weekend, "a majority of our planned incremental marketing investment is in December," meaning lots of promotions.
But Laura Lee, the author of "Bad Predictions," a book that compiles "2000 years of the best minds making the worst forecasts," said that the site better reflected the present than the future.
After the budget earlier this year, the Institute for Fiscal Studies, and other economists who studied the small print of the Treasury's long-term budget forecasts, said that in practice they would lead to most government departments facing budget cuts in real terms.
Linda Duessel, a market strategist at Federated Investors in Pittsburgh, noting that G.E. is known for its dependability in meeting Wall Street's forecasts, said that its drop in profits suggests that other first-quarter results could reveal weakness well beyond the financial industry.
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Even the most optimistic forecasts say that is years away.
Legal & General has also upped its profit forecasts, saying that cost cutting was paying off.
But if this euro rally goes where the forecasts say, that will change.
Pessimistic forecasts say that the share of non-performing loans could reach 20%.
And weather forecasts say that temperatures will remain in the 90's at least until Sunday evening, when thunderstorms are expected.
Many analysts have complained about company forecasts, saying that since taking over as chief executive, Mr. Ward has been far too optimistic about the company's prospects.
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