- Q4 deficit was smallest in six quarters.
- Goods deficit widened in Q4 as both exports and imports fell.
- Services surplus widened and deficit on secondary income narrowed in Q4.
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| Mar 15 2023
Empire State Manufacturing Activity Plunges in March
- The headline index fell 18.8 points to -24.6.
- New orders and shipments each fell meaningfully.
- Delivery times continued to shorten and the rise in prices paid slowed.
- Expectations fell but remained in slightly positive.
- USA| Mar 15 2023
U.S. Producer Prices Unexpectedly Declined in February
- The headline index fell 0.1% m/m in February with a meaningful downward revision to January.
- Core index increased 0.2% m/m.
- Annual headline rate fell further to slowest pace since March 2021. Annual core rate unchanged.
- USA| Mar 14 2023
NFIB Small Business Optimism Index Edged Up in February
- NFIB Optimism Index edged up 0.6 point to 90.6, its second consecutive monthly increase.
- But remained well below its 49-year average of 98.
- Five of the index’s 10 index rose, four fell and one was unchanged.
- Expectations that economy will improve in next six months fell.
- Inflation still single most important problem, followed by labor quality.
- USA| Mar 08 2023
U.S. Job Openings Fell in January
- The number of job openings declined to 10.8 million but still exceed unemployment by 5.130 million.
- New hires rose, on slight uptrend.
- Layoffs and discharges post largest monthly increase since November 2020.
- USA| Feb 28 2023
U.S. Advance Trade Deficit Widened Further in January
- $91.5 billion deficit in January, slightly larger than expected.
- Exports rebounded 4.2% m/m, first increase in five months.
- Imports increased 3.4% m/m, fourth increase in past five months.
- January was the mirror image of December.
- Total orders slumped 4.5% m/m but rose 0.8% m/m when subtracting nondefense aircraft.
- Nondefense aircraft orders plummeted 54.6% m/m after 105.6% surge in December.
- Both core capital goods orders and shipments rebounded.
- USA| Feb 16 2023
U.S. Producer Prices Surprise to Upside in January
- Much larger-than-expected 0.7% m/m increase in the headline index.
- Good prices rebounded sharply; services prices posted same rise as in December.
- Headline and core annual rates fell further to slowest pace since March 2021.
- The headline index rose 27 points but remained in negative territory.
- New orders continued to fall while shipments eked out a small gain.
- Delivery times fell further but prices paid rebounded.
- Expectations improved for the third consecutive month.
- USA| Feb 15 2023
U.S. Business Inventories Increased in December while Sales Fell
• Inventories continued to increase. • Sales posted second consecutive decline. • Inventory-to-sales ratio rose to highest in more than two years.
- USA| Feb 07 2023
U.S. Energy Prices Fell Across All Major Products
- Gasoline prices declined for the first time in six weeks.
- Crude oil prices first weekly decline in four weeks.
- Natural gas prices decreased for the seventh consecutive week.
- USA| Feb 01 2023
U.S. Job Openings Unexpectedly Increased in December
- The number of job openings rose to above 11 million.
- New hires rebounded.
- Layoffs and discharges increased up but remain historically low.
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