Brazil fourth-quarter GDP up 0.7 pct after decline in Q3

SAO PAULO Thu Feb 27, 2014 7:11am EST

SAO PAULO Feb 27 (Reuters) - Brazil's economy grew 0.7 percent in the fourth quarter following a downturn in the third quarter, government statistics agency IBGE said on Thursday.

Gross domestic product had been expected to grow 0.3 percent in the fourth quarter, according to the median forecast of 43 analysts polled by Reuters. In the July to September quarter, the economy contracted 0.5 percent.

The economy grew 1.9 percent in the fourth quarter compared to a year earlier, IBGE said. That surpassed expectations by analysts polled by Reuters for growth of 1.6 percent.