Meaning of “underestimate” in the English Dictionary

"underestimate" in English

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uk /ˌʌn.dəˈres.tɪ.meɪt/ us /ˌʌn.dɚˈes.tə.meɪt/

underestimate verb (AMOUNT)

B2 [ I or T ] to fail to guess or understand the real cost, size, difficulty, etc. of something:

Originally the contractor gave me a price of €2,000, but now they say they underestimated and it's going to be at least €3,000.
Don't underestimate the difficulties of getting both parties to the conference table.

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noun [ C ] uk /ˌʌn.dəˈres.tɪ.mət/ us /ˌʌn.dɚˈes.tə.mət/

Obviously, $100 was a serious underestimate.

(Definition of “underestimate” from the Cambridge Advanced Learner’s Dictionary & Thesaurus © Cambridge University Press)

"underestimate" in American English

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underestimateverb [ T ]

us /ˌʌn·dəˈres·təˌmeɪt/

to think that something is less or lower than it really is, or that someone is less strong or less effective:

Homeowners often underestimate the cost of repairing a roof.

(Definition of “underestimate” from the Cambridge Academic Content Dictionary © Cambridge University Press)

"underestimate" in Business English

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underestimateverb [ T ]

uk /ˌʌndəˈrestɪmeɪt/ us

to think that something is or will be smaller, easier, less extreme, or less important than it really is:

The company sorely underestimated demand and is struggling to expand output.
Court interpreters say the skills required to do the job are underestimated.

to think that someone is worse at doing something, less intelligent, etc. than they really are:

Sometimes his modest manner led people to underestimate him.

underestimatenoun [ C ]

uk /ˌʌndəˈrestɪmət/ us

an opinion that something is smaller, easier, less important, or less extreme than it actually is:

The total cost is likely to be an underestimate.

I believe there is a significant underestimation of the real demand for oil from the developing world.

(Definition of “underestimate” from the Cambridge Business English Dictionary © Cambridge University Press)