Executives Eschew Forecasts as Economy Sputters: Chart of Day
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The number of U.S. companies giving financial forecasts plunged as the longest recession since the Great Depression and an uneven recovery made it harder to predict earnings.
The CHART OF THE DAY shows the number of projections fell to 5,788 last year and 3,994 this year through Sept. 30 from 10,530 in 2004, according to Bloomberg data. Companies became more reluctant to give forecasts in the second half of 2008 as the economy sank into a recession that lasted until June 2009.