South Africa's real gross domestic product (GDP) at market prices on a quarter-on-quarter (q/q) seasonally adjusted annualised (saa) basis rose by 0.9 percent in the third quarter of 2009 from a revised -7.4 percent (?6.4 percent) in the first and a revised -2.8 percent (?3.0 percent) in the second quarter, Statistics South Africa (Stats SA) data showed on Tuesday.

This snaps the first instance of three consecutive quarters of negative growth seen since the fourth quarter of 1992.

Economists.co.za director Mike Schussler said: "I had expected a negative result, but this is a pleasant surprise, and it's a positive that we are out of the recession. It is good for the rand and equities, but let's wait and see how this pans out."

KADD Capital economist Elize Kruger echoed this sentiment. "Hopefully it confirms that the worst is over," she said.

Investec Group economist Annabel Bishop said the better-than-expected GDP closes the door on any further interest rate cuts, and potentially brings the timing of the first rate hike closer.

She said: "The economy technically left recession in the thrid quarter of 2009 on the basis of the data published by Statistics SA today, but a sharp, V-shaped recovery is still unlikely in SA due to its heavy dependence on global demand and the degree of job losses and company failures to date."