Government Lowers GDP Forecast Again.

The Economic Ministry downgraded its GDP forecast for 2005 from 4% to 3.5%. Concorde Capital: This is a third downgrade the government has made this year from its initial forecast of 8.2%. The last time the government worsened its annual GDP estimate was a month ago from 6.5% to 4%. Our current forecast is more optimistic, 5%. We will wait for economy data from October to see if revision is needed.