Moody's sees South Africa avoiding recession in 2015

Moody's said on Wednesday it expects South Africa to avoid sliding into a recession this year, despite signs that the economy is struggling after contracting in the second quarter this year. Moody's Senior Vice President, Kristin Lindow, said in a statement that electricity shortages, low commodity prices, a drought and weaker than expected global growth will constrain Africa's most advanced economy over the next 18 months. "While Moody's expects South Africa to avoid recession in 2015, the rati