September 05, 2024 11:09 GMT
SOUTH AFRICA: Electricity Production Data Erases Load-Shedding Hangover
SOUTH AFRICA
South Africa Electricity Consumption (July Y/Y) +6.9% (Prev +3.3%), Production (July Y/Y) +8.5% (Prev. +5.4%)
- That's the fastest pace of electricity production since mid-2021's COVID-related anomalous reading and the fourth highest since records began in 2006 - a more concrete sign that loadshedding issues that dragged the economy across late 2022 and early 2023 are fading fast.
- It's a similar picture for consumption - 6.9% comfortably clears post-COVID highs to provide a firmer backdrop for economic activity into the second half of the year.
83 words