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 October.
The FNI index for the Norwegian economy has been updated with figures up to and including 31 October. Since mid-October, the FNI index has fallen sharply, and it is now at as low levels as it was in March.
The development in the FNI index was extraordinary this spring. Already in the beginning of March, the index fell sharply and quickly to very low levels. By mid-March, the level of the index was lower than during the financial crisis, and signaled a strong and potentially prolonged recession. Since the end of April, the index has showed a more positive trend. However, in line with increased infection rates, and increased uncertainty in the financial markets related to the US election, the FNI index falls sharply in October. What previously seemed to be a V-shaped recession can now turn out to be a W.
- 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.
For more information, contact Associate Professor Leif A. Thorsrud, BI Norwegian Business School, +47 988 37 976, firstname.lastname@example.org or Professor Hilde C. Bjørnland, BI Norwegian Business School, +47 464 10 767, email@example.com.
Previous FNI Updates
- FNI Update September – Continued Low Growth
- FNI Update August – Growth has Slowed Down
- 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