Brazil's economy contracted 0.8% in the third quarter, its seventh straight sequential decline.
Capital Economics cited the one-off effects of a poor agricultural harvest and temporary production disruptions in the auto sector, but emphasized persistent weakness in consumer spending.
The average forecast from 20 consultancies and financial institutions polled by Valor Data was a decline of 0.9%. Projections ranged from -0.50% to -1.1%.
In the year-on-year comparison, GDP fell 2.9%, its tenth straight contraction, as the country is experiencing its worst recession in decades.
The current value of Q3 GDP reached 1.58tn reais (US$466bn), according to data from statistics bureau IBGE.
Capital Economics downwardly revised its 2016 growth projection for the country to -3.5% (from -3.0%) and to 1.0% (from 1.5%) in 2017.