South Africa's economy grew 0.4% in the first quarter of 2023 in quarter-on-quarter seasonally-adjusted terms after contracting by a revised 1.1% in the fourth quarter of 2022, statistics agency data showed on Tuesday.

In year-on-year terms the economy grew 0.2% in the first quarter, Statistics South Africa said.

The growth rates were in line with the forecasts of analysts polled by Reuters, and mean Africa's most industrialised economy narrowly avoided a recession.

Eight of 10 industries tracked by Stats SA recorded growth in the first quarter of 2023 despite record power cuts.


(Reporting by Kopano Gumbi Additional reporting by Bhargav Acharya Editing by Alexander Winning)