The Asian Development Bank Tuesday forecast India's growth to accelerate to 6% in the current fiscal year because of the steps taken by the government.
The Economic Development Ministry cut the 2011 economic growth forecast to 4.1% from 4.2% recently because of a slow down in the Russian economy earlier this year.
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On Friday, the German business-software company confirmed its full-year forecast, but business development in the first quarter fell short of analysts' expectations.
The Chartered Institute of Personnel and Development, which has forecast a much higher reduction in public sector jobs, said the picture painted by the OBR differed from reports it had received from "managers on the ground".
Following in the footsteps of downgrades by other intergovernmental organizations, the Asian Development Bank cut its growth forecast for Asia's developing economies, including China, India and South Korea, to 3.4%, from 5.6%, marking the slowest pace in a decade.
On the upside, the Organization for Economic Cooperation and Development separately raised its first-quarter GDP forecast for countries in the Group of Seven industrialized nations to 1.9% from 1.5%.
In April the Metro Denver Economic Development Corporation had to revise its forecast due to better-than-expected gains in employment, retail sales and applications for residential building permits.
The Asian Development Bank (ADB) has cut its growth forecast for Asia for this year and next, as economic problems in Europe and the US hurt developing countries.
These manufacturers are able to analyze a price elasticity curve, yielding a forecast of the average unit retail price before product development dollars are spent.
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The Organization of Economic Cooperation and Development will release their global growth forecast figures on Tuesday, along with U.S. existing home sales and Euro zone consumer confidence survey results.
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However, some economists consider this growth forecast optimistic, and the Organisation for Economic Co-operation and Development on Tuesday predicted a 1.8% contraction.
In its new forecast, released on Monday, the Organisation for Economic Co-operation and Development (OECD) says the eurozone economy is contracting and argues the European Central Bank must take action.
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