FNI Update February – FNI Index on Trend

The FNI index was last updated March 2.

The FNI index for the Norwegian economy has been updated with figures up to and including 2 March. The negative development observed in December and January has not continued, but the FNI has remained at the same level as in the previous month.

In line with increased infection pressure from Covid-19, the FNI index started to indicate that we were entering a recession by the end of 2020. This negative development continued through January. During February, the FNI has not fallen further, but has remained at approximately the same negative level. By the beginning of March, the FNI index for the Norwegian economy is on 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.


  • 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,  leif.a.thorsrud@bi.no or Professor Hilde C. Bjørnland, BI Norwegian Business School, +47 464 10 767,  hilde.c.bjornland@bi.no.

Previous FNI Updates

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