FNI Update March – Unchanged 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 31 March

The FNI index has remained relatively unchanged since February, exiting March at its average level. This strengthens the implication from the update in February that the economic outlook is stabilizing around an average growth rate. The stabilizing of the economy follows a period where the business cycle has been well above average for more than two years.

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

  • News about startups and IT-systems continue to increase the index.
  • Following the patterns from February, news about results and monetary policy also continue to pull the index up.

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

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

chart (7).jpeg

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 May 6 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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