what are some of the microeconomic and macroeconomic factors a firm must consider in its own sales and profits forecasting?

Answer by  ChrisPeterson (18)

Factors to consider include the health of the economy, competition within the industry, the firm's market share, and any competitive advantages (or disadvantages) the firm may have.

Answer by  Math68 (308)

Consider the overall state of the economy - is it boom or bust when you're forecasting? Then consider your particular region, again, is your region doing better or worse than the national average? Also consider how well your particular sector (manufacturing, retail, services, etc.) is performing.