Economists See a 45% Chance of a South Africa Recession in 2023
- Energy crisis threatens to further curb economic growth
- Central bank seen cutting interest rates from fourth quarter
People gather to buy corn from a street vendor in Johannesburg.
Photographer: Waldo Swiegers/BloombergThis article is for subscribers only.
Africa’s most industrialized economy faces a 45% chance of slipping into recession this year as South Africa’s electricity crisis deepens.
The probability of it happening in the coming 12 months increased from odds of 35% in November, around the start of the longest streak of consecutive daily power cuts. That’s according to the latest Bloomberg monthly survey of economists, conducted Jan. 9-12, with 7 economists responding to a question about the chance of a recession.