FNI Update November – The index remains stable through the month

About the index

The Financial News index (FNI) is designed to track Norwegian GDP growth and the business cycle at high frequency. The underlying indicators are daily time series representing how much the media writes about various topics.

  • To read more about the FNI, visit our website.
  • To read more about the use of textual data, we recommend CAMP working paper No 4/2016 Words are the new numbers: A newsy coincident index of business cycles by Leif Anders Thorsrud.

The FNI was last updated 30 November

After a couple of months with high frequency swings, the index fell through the end of October. The November levels remained stable compared to end-October. The index is lower than we have seen through large parts of 2018, but is still slightly above average. This supports the indication we saw in October – the economic upturn we have experienced seems to be flattening out.

News that have a positive impact on the index in November:

  • News about startups and IT-systems continue to pull the index up. However, the tendency is that this contribution is decreasing.

News that have a negative impact on the index in November:

  • News about the stock market continue as last month, and pulls the index slightly down.
  • News about tourism and retail also contribute to decrease the index.

The next FNI update is 7 January 2019.

chart (2)

The figure graphs the Financial News (FNI) with 68 percent confidence bands. The blue solid line demeaned quarterly GDP growth Mainland Norway, sourced from Statistics Norway (SSB). Please use the citation “FNI – Retriever/CAMP_BI” when using the index.

Previous FNI updates

 

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