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‘Tis the season for economic forecasts  and we’ve rounded up several for you to round out our summary of the December economic reports. Beginning with where we are now.

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After several months of declining home sales, analysts have begun using the f-word ─ falling ─ to describe the housing market’s trajectory. “The housing market is stumbling through its longest slump in four years, as the divergence between a booming U.S. economy and weakening home sales that many had dismissed as temporary now looks poised to continue,” the Wall Street Journal reported.

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What has been a quiet hum of concern about the housing market has grown louder, reflected in the comments of industry analysts and in headlines such as these: “Home Buyer Demand Cools Off”; “Housing Market Showing Signs of Cracking”; “Is the High-Flying Housing Market Heading for a Fall?”

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Summer temps have been heating up but the employment market cooled slightly in June. Employers added 213,000 workers for the month, beating less optimistic expectation, but lagging May’s total of 244,000 – revised upward from the 223,000 reported initially.

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What has been a quiet hum of concern about the housing market has grown louder, reflected in the comments of industry analysts and in headlines such as these: “Home Buyer Demand Cools Off”; “Housing Market Showing Signs of Cracking”; “Is the High-Flying Housing Market Heading for a Fall?”

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If economic reports were songs, you might be humming the monthly reports from memory. The numbers have been changing from month to month, but the tune has remained the same. June was no exception. Once again, the reports tell us: The economic recovery, already the longest on record, continues.

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April produced a mix of indicators, some stronger than others, but most landing firmly on the solid end of the performance spectrum.

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Anyone looking for clarity or consistency in the March economic data will have to look hard and will likely be disappointed. If there is a pattern, it is disjointed – a tug-of-war between competing narratives, one suggesting a confident upward trajectory and the other cause to question it.

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The big economic news for this month is the much stronger than expected employment report; the big question is, why in the face of strong labor market, consumer spending (reflected in retail sales) has been trending steadily downward.

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A robust January employment report confirmed the economy’s strength, while triggering a bond sell-off that sent mortgage rates higher in early February.