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South Africa avoided a first-quarter recession, but the economy remains under pressure from the worst power crisis on record. Rolling electricity cuts reached up to 10 hours a day, largely due to breakdowns at state utility Eskom's coal fleet.
The outlook is described as grim.
Severe power shortages constrain South African industrial and feed-processing output and weigh on the rand. Weaker domestic demand could temper feed import needs.
reuters.comKopano GumbiJun 6, 2023Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
