- Applications rose 2.8% w/w with increases in both purchases and refinancings.
- Mortgage interest rates fell further to their lowest levels since late September.
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
by:Sandy Batten
|in:Economy in Brief
- Job openings edged up 0.6% in September on top of a downwardly revised 6.5% increase in August.
- Hires were little changed.
- Total separations fell 2.8% led by a 9.8% drop in layoffs.
by:Sandy Batten
|in:Economy in Brief
- Headline index was unchanged at -8, indicating that pace of decline was the same.
- Most components remained in negative territory.
- Expectations for six months ahead unchanged at an anemic 1.
by:Sandy Batten
|in:Economy in Brief
- Total orders rose a much larger-than-expected 4.7% m/m.
- Boosted by a 92.5% m/m jump in nondefense aircraft orders.
- Core capex orders increased 0.6% m/m while shipments were unchanged.
by:Sandy Batten
|in:Economy in Brief
USA| Oct 19 2023Initial Unemployment Claims Fell—Lowest Since January
- Claims unexpectedly fell to 198,000 in the week ended October 14.
- This is the lowest weekly level since January 21.
- Continuing claims edged up to their highest level since July 8, but remain low historically.
by:Sandy Batten
|in:Economy in Brief
USA| Oct 11 2023U.S. Mortgage Applications Edged Up as Rates Continued to Rise
- Total applications edged up 0.6% w/w after two consecutive weekly declines.
- Mortgage interest rates continued to rise with the 15-year and 30-year rates reaching 23-year highs.
by:Sandy Batten
|in:Economy in Brief
USA| Oct 04 2023U.S. Factory Orders Rebounded in August
- Total factory orders rose 1.2% m/m after a 2.1% m/m decline in July.
- Transportation orders slipped 0.3%, again led by weaker orders for nondefense aircraft.
- Durable goods orders edged up 0.1% m/m while nondurable orders jumped 2.1% m/m.
- Shipments increased 1.3% m/m, their fourth consecutive monthly gain.
by:Sandy Batten
|in:Economy in Brief
USA| Sep 14 2023U.S. PPI Jumped in August, Driven by Gasoline Prices
- Larger-than-expected 0.7% m/m increase in August.
- About 50% of overall increase attributable to 20% m/m surge in gasoline prices.
- PPI excluding food and energy prices rose just 0.2% m/m.
by:Sandy Batten
|in:Economy in Brief
USA| Sep 13 2023U.S. Mortgage Applications Fell Further
- Applications fell for the seventh time in the past eight weeks.
- Purchase applications increased while refinance applications fell.
- Mortgage interest rates rose modestly but remained slightly off recent highs.
by:Sandy Batten
|in:Economy in Brief
USA| Sep 08 2023Consumer Credit Increased in July but Less than Expected
- Nonrevolving credit edged up $0.8 billion with a decline in bank lending.
- Revolving credit rebounded, rising $9.6 billion after a $0.9 billion decline in June.
by:Sandy Batten
|in:Economy in Brief
USA| Aug 30 2023Q2 U.S. GDP Growth Revised Slightly Slower
- GDP increased 2.1% q/q (SAAR) in the second estimate vs. 2.4% in the advance.
- Downward revision to business spending on equipment was the major source.
- GDP and PCE price inflation moderated even further.
- Small decline in total corporate profits with an increase in foreign profits.
by:Sandy Batten
|in:Economy in Brief
USA| Aug 29 2023U.S. JOLTS Job Openings Slid Further in July
- Openings fell modestly, the sixth decline in the past seven months.
- Excess of openings over number unemployed fell to lowest level August 2021.
- Hires fell for the second consecutive month to lowest level since January 2021.
- Quits fell for the fourth time in the past five months while layoffs edged up.
by:Sandy Batten
|in:Economy in Brief
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