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 29 February.
Updated with news from February, the FNI index shows a significant fall towards the end of the month. According to the index, the business cycle is weak throughout the month, and ends at its weakest level since the oil downturn during the summer of 2016. The decline of the index confirms what we have seen since fall 2019, namely that the expansion has passed.
News that has a positive impact on the index in February:
- News about restructures and startups increase the index.
News that has a negative impact on the index in February:
- News about the oil market, interest rates and monetary policy continue to decrease the index.
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 April 6 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
- January 2020 – Continuing Around Trend
- December 2019 – Entering 2020 around Trend
- November 2019 – The Index is Stabilizing
- October 2019 – The Fall Continues
- September 2019 – Signalling a Contraction
- August 2019 – Increased Uncertainty
- July 2019 – A Stronger Business Cycle
- June 2019 – Growth Above Trend
- May 2019 – The Business Cycle is Around Trend
- April 2019 – A Stable Economy
- March 2019 – Unchanged Economic Outlook
- February 2019 – Stable Economic Outlook
- January 2019 – A Weaker Business Cycle
- December 2018 – An economic Slowdown?
- November 2018 – The index remains stable through the month
For more information, contact Professor Hilde C. Bjørnland, BI Norwegian Business School, +47 464 10 767, firstname.lastname@example.org or Associate Professor Leif A. Thorsrud, BI Norwegian Business School, +47 988 37 976, email@example.com.