A brand-new measurement method has allowed to detect recent positive developments in the country’s economy. The so-called “Activity Index FNI” (which stands for “Financial News Index”) is an analytical concept based on a thorough analysis of economic news in the national mass media. The index clearly shows the national economy has experienced a considerable boost recently, as compared to the first three months of this year.
The innovative analytical technique was conceived and first implemented by a research team based at the Center for Applied Macro and Petroleum Economics (commonly abbreviated to “Camp”) within BI Norwegian Business School, while the Retriever media surveillance company later facilitated its publication.
The approach is based on a regular comparative analysis of overall economic activity against the country’s GDP. Importantly, the new index monitors a number of newspapers every day, and thus provides a constantly updated overview of the economic data featured in the press. This makes the FNI index even more reliable and trustworthy than the official GDP reports by Statistics Norway’s that only come out every three months and normally provide the data with a month and a half lag.
According to the leader of the BI business school-based “Camp-senteret” Professor Hilde C. Bjørnland, the index has revealed a largely optimistic picture that implies further economic boost in the coming months.