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English definition of “underestimate”

underestimate

verb (AMOUNT)    /ˌʌn.dəˈres.tɪ.meɪt/ US  /-dɚˈes-/
B2 [I or T] to fail to guess or understand the real cost , size , difficulty , etc. of something: Originally the builders gave me a price of £2,000, but now they say they underestimated and it's going to be at least £3,000. One shouldn't underestimate the difficulties of getting all the political parties to the conference table . → Opposite overestimateMisunderstanding underestimate     /-mət/ noun [C] Clearly £25 was a serious underestimate.Guesses and assumptions
(Definition of underestimate verb (AMOUNT) from the Cambridge Advanced Learner's Dictionary & Thesaurus © Cambridge University Press)
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