ANNABEL BISHOP: Load-shedding dims economic outlook
Domestic GDP growth forecast downgraded to 0.2%
31 March 2023 - 05:00
SA’s electricity crisis has dimmed its economic growth outlook. Investec has downgraded SA’s GDP growth forecast to 0.2% year on year, on the weakening in GDP in the fourth quarter of 2022 which creates a low base for 2023 to roll off on, and on the deepening energy crisis.
The first quarter of 2023 is likely to see economic activity contract further, by -0.5% quarter on quarter, seasonally adjusted from the last quarter of 2022’s -1.3% quarter on quarter, seasonally adjusted, which will yield a recession on a technical basis as load-shedding cuts into productive capacity...
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