FNI Update February – Stable Economic Outlook

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 28 February

After a period of decreasing since December, the index ends around the average levels in February. This indicates that the economic climate is stabilizing around an average growth rate, and that the economic outlook is more normal. This follows a period where the economy has been well above average for more than two years.

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

  • News about startups and IT-systems continue to increase the index.
  • News about results also contributed positively, as in January.
  • As opposed to the past months, news about monetary policy increased the index in February.

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

  • News about retail, the stock market and tourism pulls the index down.

chart (6)

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.

The next FNI update is April 5 2019.

  • To read more about the FNI, visit our website.
  • To read more about the use of textual data, we recommend CAMP working paper No 4/2016Words 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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