# South Africa dodges first quarter recession, but outlook grim

> 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.

- Date: 2023-06-06 · published 2023-06-06T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/35803-south-africa-dodges-first-quarter-recession-but-outlook-grim
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

Severe power shortages constrain South African industrial and feed-processing output and weigh on the rand. Weaker domestic demand could temper feed import needs.

## Read by commodity

- USDZAR: bullish ▲

## Sources

- reuters.com: https://www.reuters.com/world/africa/south-africa-dodges-recession-economy-grows-04-q1-2023-06-06/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.