There was no shortage of bearish, or pessimistic, forecasts about the markets yesterday.

For 1989, there is a wide spread between the most optimistic and the most pessimistic forecasts.

The Race had lost far more equipment on Tosev 3 than even the most pessimistic forecasts allowed for.

Even if investors disagree, they cannot dismiss pessimistic forecasts because these may well influence others.

It helps to have a pessimistic forecast that you have a chance of beating.

The figure, which was far above even the most pessimistic forecast, generated a vast selloff.

The most pessimistic forecast is that they won't do that until 1996, by which time there would be more than four million out of work.

All this statement does is carry over the pessimistic forecasts made by the Commission for 2004 into the political field.

However, the truth is that the situation is even more negative than the most pessimistic forecasts.

The $53.34 billion deficit was some $10 billion above the most pessimistic forecasts.