Haver Analytics
Haver Analytics

Introducing

Sandy Batten

in:Our Authors

Sandy Batten has more than 30 years of experience analyzing industrial economies and financial markets and a wide range of experience across the financial services sector, government, and academia.   Before joining Haver Analytics, Sandy was a Vice President and Senior Economist at Citibank; Senior Credit Market Analyst at CDC Investment Management, Managing Director at Bear Stearns, and Executive Director at JPMorgan.   In 2008, Sandy was named the most accurate US forecaster by the National Association for Business Economics. He is a member of the New York Forecasters Club, NABE, and the American Economic Association.   Prior to his time in the financial services sector, Sandy was a Research Officer at the Federal Reserve Bank of St. Louis, Senior Staff Economist on the President’s Council of Economic Advisors, Deputy Assistant Secretary for Economic Policy at the US Treasury, and Economist at the International Monetary Fund. Sandy has taught economics at St. Louis University, Denison University, and Muskingun College. He has published numerous peer-reviewed articles in a wide range of academic publications. He has a B.A. in economics from the University of Richmond and a M.A. and Ph.D. in economics from The Ohio State University.  

Publications by Sandy Batten

  • USA    | Feb 25 2022

    U.S. Durable Goods Orders Surprise to Upside in January

    • January increase led by strong nondefense aircraft orders.
    • December decline revised up from decrease to a meaningful increase.
    • Core capital goods shipments up 1.9% m/m, pointing to a solid beginning for Q1 equipment spending.

    by:Sandy Batten

    |in:Economy in Brief

  • USA    | Feb 24 2022

    U.S. New Home Sales Fell in January

    • Sales fell in Jan after two double-digit percent increases, but with upward revisions to both Nov and Dec.
    • Sales fell in three of four major regions with only gain in the West.
    • Median sales price rebounded after two consecutive monthly declines.

    by:Sandy Batten

    |in:Economy in Brief

  • USA    | Feb 24 2022

    U.S. Unemployment Claims Continued to Fall

    • Fifth weekly decline in past six weeks.
    • Continued claims fell in week ended Feb 12 to lowest since early 1970.
    • Insured unemployment rate tied record low.

    by:Sandy Batten

    |in:Economy in Brief

  • USA    | Feb 17 2022

    U.S. Unemployment Claims Jumped in Latest Week

    First increase in claims in four weeks.

    • Continued claims fell in week ended Feb 5 to second lowest since 1973.
    • Insured unemployment rate held steady near record low.

    by:Sandy Batten

    |in:Economy in Brief

  • USA    | Feb 16 2022

    U.S. Industrial Production Rebounded in January

    • Industrial production rose 1.4% m/m to 2.1% above pre-pandemic level.
    • Led by utilities with manufacturing output up just 0.2% m/m, likely held down by Omicron absences.
    • Capacity utilization rises to above pre-pandemic level.

    by:Sandy Batten

    |in:Economy in Brief

  • USA    | Feb 16 2022

    U.S. Mortgage Applications Decline Again As Rates Rise

    • Total applications fall for third week in last four.
    • Led by decline in applications for refinancing.
    • 30-year mortgage interest rates rose to highest level since July 2019.

    by:Sandy Batten

    |in:Economy in Brief

  • USA    | Feb 08 2022

    U.S. Small Business Optimism Declined in January

    • Optimism fell to lowest level since February 2021.
    • Inflation was a top concern with the net percent raising prices increasing to the highest level since Q4 1974.
    • Labor-market conditions remained historically tight.
    • Respondents remained very pessimistic about near-term outlook.

    by:Sandy Batten

    |in:Economy in Brief

  • USA    | Feb 02 2022

    U.S. Mortgage Applications Rebounded

    • Total applications rebounded with largest weekly gain since July 2021.
    • Led by 18.4% w/w jump in refinancing, following four consecutive weekly declines.
    • 30-year mortgage interest rate rose further to highest since March 2020.

    by:Sandy Batten

    |in:Economy in Brief

  • USA    | Feb 01 2022

    December U.S. JOLTS: Job Market Remains Tight

    • Job openings up slightly; third highest level on record.
    • Biggest monthly decline in hiring since December 2020.
    • Quits recede after November record surge.
    • Layoffs and discharges fall to record low.

    by:Sandy Batten

    |in:Economy in Brief

  • USA    | Jan 27 2022

    U.S. Durable Goods Orders Fell in December

    Manufacturers' new orders for durable goods fell 0.9% m/m (+15.6% y/y) in December after an upwardly revised 3.2% m/m increase (initially 2.5%) in November. The Action Economics Forecast Survey was expecting a 0.5% m/m decline. For all of 2021, orders were up 20.9% after having fallen 13.6% in 2020.

    The December decline was due mostly to a 3.9% m/m fall (+23.6% y/y) in transportation orders following an 8.2% m/m jump in November. A 13.5% m/m drop in aircraft orders was the major source of the decline in transportation orders in December. Aircraft orders had jumped up 30.6% m/m in November. Orders for motor vehicles and parts were up 1.4% m/m, their third consecutive monthly increase. Excluding transportation, the remainder of orders rose 0.4% m/m (+12.0% y/y) in December on top of a 1.1% increase in November. Across the other major sectors, orders for primary metals and fabricated metal products rose in December while orders for machinery, computers and electronic products and for electrical equipment fell.

    Durable goods shipments rose 0.8% m/m (10.1% y/y) in December, their fourth consecutive monthly increase, after an upwardly revised 0.8% m/m rise in November (initially reported as 0.7% m/m). Transportation shipments were up 0.9% m/m in December while shipments of defense goods slumped 2.5% m/m. Shipments excluding transportation rose 0.8% m/m while shipments excluding defense were up 1.0% m/m in December. This report now contains an advance reading on shipments of nondurable goods. They slipped 0.1% m/m (+13.8% y/y) in December, their first monthly decline in 10 months, following a 0.5% m/m rise in November. Shipments in all manufacturing industries increased 0.3% m/m (+11.2% y/y) in December after an upwardly revised 0.7% m/m gain in November (initially 0.6% m/m).

    Also in the report are key readings on capital goods shipments and orders. The shipments figures provide a dependable reading on the course of business spending on equipment in the national accounts. Core (that is, excluding defense and aircraft) capital goods shipments increased a solid 1.3% m/m (10.4% y/y) in December following an upwardly revised 0.4% monthly gain in November (initially 0.3% m/m). This provides a good starting point for business equipment spending for Q1 2022. Core capital goods orders were unchanged in December (+10.4% y/y) following a 0.3% monthly gain in December (revised up from 0.1% m/m).

    Unfilled orders for durable goods rose 0.5% m/m (+7.4% y/y) in December after a 0.8% m/m gain in November. Unfilled orders are not calculated for nondurable goods. Manufacturing inventories increased 0.2% m/m (8.9% y/y) in December, reflecting a 0.7% m/m rise in durable goods inventories and a 0.5% m/m decline in nondurable goods inventories.

    The durable goods and nondurable goods data are available in Haver's USECON database. The Action Economics consensus forecast figure is in the AS1REPNA database.

    by:Sandy Batten

    |in:Economy in Brief

  • USA    | Jan 26 2022

    U.S. Mortgage Applications Fall Sharply as Rates Rise

    • Total applications fell for first time in three weeks.
    • Led by largest weekly drop in refinancing applications since late November.
    • 30-year mortgage interest rate rose to highest since March 2020.

    by:Sandy Batten

    |in:Economy in Brief

  • USA    | Jan 19 2022

    U.S. Energy Prices Continued to Rise

    • Gasoline prices edged up to highest in five weeks.
    • Crude oil prices rose again to highest in nine weeks.
    • Natural gas prices soared on top of big increase in the previous week.

    by:Sandy Batten

    |in:Economy in Brief