SA economy avoids technical recession, grows 0.4%

After contracting 1.1% in the last quarter of 2022, South Africa’s economy has grown slightly, putting the country’s GDP marginally higher than its pre-pandemic level.

According to data released by Statistics South Africa on Tuesday, GDP grew 0.4% quarter-on-quarter during the first three months of 2023. This was despite severe load-shedding posing a considerable threat to the economy, which analysts expect will grow less than 1% this year as a result.

Eight of the 10 industries...