FNI Update December – An economic slowdown?

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.

The FNI was last updated 31 December

After fluctuating slightly up and down in October and November, the index fell throughout December. The FNI is now just below average, and is at its lowest level since the fall of 2016. This may indicate that the business cycle is experiencing a slowdown.

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

  • News about startups and IT-systems continue to increase the index.

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

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

chart (3)

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. 
  • 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.

Previous FNI updates

For more information, contact Professor Hilde C. Bjørnland, BI Norwegian Business School, +47 464 10 767,  hilde.c.bjornland@bi.no

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