ESRI Nowcast (as of 26th August 2024)
August 26, 2024
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- As of August 26th, the ESRI's 2024Q2 nowcast estimates that MDD is growing at 3.0% year-on-year. This remains unchanged from last month’s estimate. This is the final nowcast of 2024Q2 and is based on a full complement of data from April, May and June.
- Decomposing the key drivers of this month’s nowcast estimate show that similar to last month’s estimate robust tax revenues and strong growth in house prices (both of which are included in the ‘other’ component of the decomposition below) and certain sectors of industrial production compared to June 2023 contributed most significantly to the estimated growth.
- Weaker consumption data compared to June 2023 had a negative impact on the estimate.