ESRI Nowcast (as of 20th June 2024)
June 20, 2024
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- As of June 20th, the ESRI's 2024Q2 nowcast estimates that MDD is growing at 3.0% year-on-year.
- This is the first nowcast of 2024Q2 and is based on data from April only.
- Decomposing the key drivers of this month’s nowcast estimate show that strong growth in certain sectors of industrial production (output) relative to April 2023 contributed significantly to the estimated growth as did the growth in house prices, which is included in the 'other' component of the decomposition.
- Weaker consumption data as well as lower business sentiment compared to April 2023 had a negative impact on the estimate.