Brazil Q3 GDP shrinks 0.5 percent from Q2, weaker than expected

SAO PAULO Tue Dec 3, 2013 6:07am EST

SAO PAULO Dec 3 (Reuters) - Brazil's economy shrank 0.5 percent in the third quarter from the second quarter, government statistics agency IBGE said on Tuesday, as output fell even more than expected.

Gross domestic product had been expected to contract 0.2 percent in the third quarter, according to the median forecast of 40 analysts polled by Reuters.

The economy grew 2.2 percent in the third quarter when compared to the year-earlier period, IBGE said. That fell short of expectations for growth of 2.5 percent in the Reuters poll.

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