To some extent, HSBC says, this reflects the fact that European economists have pared the 2010 Eurozone gross domestic product forecasts to 1.1% from 1.3% in December.
Several analysts lowered earnings forecasts as product delays and slowed consumer spending reduced sales.
Gains in Seoul were muted after data showed fourth-quarter gross domestic product fell short of forecasts.
With unemployment rising toward 10%, the government forecasts just 0.7% growth in gross domestic product this year, while the International Monetary Fund forecasts 0.5%.
The plan should also include an introduction to the management team, a marketing plan, a product development schedule, and financial forecasts, including cash requirements.
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Lingering concerns over the recession in the euro zone, an ongoing economic slowdown in China and front and center concerns about the U.S. fiscal cliff are pressuring forecasts for global gross domestic product and demand for crude oil.
It forecasts that the eurozone's deficit as a percentage of gross domestic product will fall to 1.6% this year and 1.2% in 2000 compared with original forecasts of 1.9% and 1.7% respectively.
The firm forecasts U.S. second-quarter gross domestic product to rise 1.4%, meager growth by any measure, but growth nonetheless.
Consensus forecasts for 2001 indicate that Turkey's gross domestic product will decline by 5%, annual inflation will be 57% and the government's deficit will be a bloated 16.2% of GDP.
For example it may become very clear that the marketing team develops poor advertising, the finance team makes lousy forecasts, the sales force is not hitting its distribution goals, or the product development team failed to incorporate key elements.
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But consensus forecasts call for growth to accelerate to 8.1% in 2006, thanks to product improvements and brighter, more inviting stores.
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