FNI Update December – FNI Around Trend Again

The FNI was last updated 31 December.

The FNI index for the Norwegian economy has been updated with figures up to and including 31 December. Following the development of the pandemics, the index fell considerably in November, but the fall does not seem to be persistent.

During most of the autumn, the index has signaled a business cycle around trend. From mid-November, the index fell significantly. In December it seems like the decline is behind us, and the index is now reversing slowly towards trend again. The uncertainty in the estimates are large, as it has been during great parts of the pandemic situation.

The figure graphs the Financial News Index (FNI) with 68 percent confidence bands. 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

• FNI Update November – FNI is Falling
• FNI Update August – A Negative Development
• FNI Update July – Slightly Above Trend
• FNI Update June – FNI Upgraded, Updated, and at Trend Levels
• FNI Update May – Updated Algorithm
• FNI Update February – FNI Index on Trend
• FNI Update January – Decreasing and Below Trend
• FNI Update December – Leaving 2020 Below Trend
• FNI Update November – Great Uncertainty in the Estimates
• FNI Update October – A W-Shaped Recession?
• FNI Update September – Continued Low Growth
• FNI Update August – Growth has Slowed Down
• Extra FNI Update: Still well below trend, but improving