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 August.
In line with the weak GDP growth for the second quarter that was published last week, the index is revised down somewhat. However, the economic situation is somewhat better than earlier this year, but still below trend.
The development in FNI this spring has been extraordinary. Already in the beginning of March, the index fell sharply and quickly to very low levels. In mid-March, the levels of the index were lower than during the financial crisis and signaled a strong and potentially prolonged recession. This started to change at the end of April, and since then, the index has gradually become less negative and approach a more normal situation. Over the summer, however, growth has flattened, and the current level of the FNI index indicates that the Norwegian business cycle is well below trend levels.
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.
- Extra FNI Update: Still well below trend, but improving
- Extra FNI Update: U, V, or Still Declining?
- Extra FNI Update: Approaching the Trough
- Extra FNI Update: Is the Worst Behind us?
- Extra FNI Update: Lowest level since early 1990s
- March 2020 – as Serious as During the Financial Crisis
- Extra FNI Update – The impact of the Corona Crisis
- February 2020 – The Business Cycle is Weakening
- 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