FNI Update September – Continued Low Growth

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 30 September.

The FNI index for the Norwegian economy has been updated with figures up to and including 30 September. The development through September reinforces the impression from August, with continued low growth. The economic situation is better than during the downturn this spring, but still below trend.

The development in FNI was extraordinary this spring. Already at 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 picture started to change at the end of April. Since then, the index has gradually become less negative and approached a more normal situation. During the summer and early autumn, however, growth has leveled off, and the current level of the FNI index for the Norwegian economy ensures that the business cycle is still well below trend.

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.

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