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SOUTH AFRICA: Electricity Production Data Erases Load-Shedding Hangover

SOUTH AFRICA
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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.
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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.