FNI Update December – Entering 2020 around Trend

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.

The FNI index ended 2019 growing around trend growth. After a period of negative development during the fall, the business cycle appears to have stabilized.

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

  • News about restructures and startups increase the index.

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

  • News about the interest rate and monetary policy continue to decrease the index.

chart (17)

The figure graphs the Financial News Index (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 February 7 2020.

  • To read more about the FNI, visit our website.
  • To read more about the use of textual data, we recommend: Thorsrud, Leif Anders (2018), “Words are the new numbers: A newsy coincident index of the business cycle”, Journal of Business & Economic Statistics.

 

Previous FNI updates

For more information, contact Professor Hilde C. Bjørnland, BI Norwegian Business School, +47 464 10 767,  hilde.c.bjornland@bi.no or Associate Professor  Leif A. Thorsrud, BI Norwegian Business School, +47 988 37 976,  leif.a.thorsrud@bi.no.

 

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