Nowcast (as of 17 July 2025)
July 18, 2025
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- As of 17th July, the ESRI's 2025Q2 nowcast estimates that MDD is growing at 3.6% year-on-year. This is the second estimate for 2025Q2 based on April and May.
- While this represents an increase of 0.5% from last month's estimate, this is largely due to revised MDD data released by the CSO rather than a significant impact in activity. The underlying indicator of economic activity for May ,which determines the nowcast, was broadly similar to that for April.
- Decomposing the key drivers of this month’s nowcast show that output, labour, sentiment, housing and tax data contributed positively to the estimate.
- On the other hand, financial, price and weaker consumption data compared to the same period in 2024 had a negative impact on the estimate.