South Africa Avoids Contraction as Growth Outlook Remains Dim

South Africa’s economy narrowly escaped an expected contraction in the first three months of the year as farming surged, but the outlook remains challenging amid weak investment.

Gross domestic product rose 0.1% in the first quarter, compared with revised growth of 0.4% in the previous three-month period, Statistics South Africa said in a report released on Tuesday. The median estimate in a Bloomberg survey was for a 0.1% contraction.