Still, the company reduced expectations for the next quarter, saying that earnings growth would slow, to about 30 cents a share.

The surveys suggested that higher energy prices had begun to reduce expectations.

Showing a relatively strong labor market, the report reduced expectations that the current slowing of economic growth was leading to recession.

A ranking Administration official said, "There's no need for us to reduce expectations the way you usually do at these things, because they're low enough already."

Singer, he thought, might ease his nerves by reducing expectations on both their parts.

At the same time, they are reducing expectations and adjusting longstanding plans.

James Arbuthnot, the chairman, says that he wants to reduce expectations.

Mr. Bradley tried to reduce expectations about how he would do on Tuesday.

Even Miles, who has embraced James's superstardom, seems to have reduced expectations.

The slightly stronger dollar, in turn, could help keep rates low by reducing expectations of inflation.