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Jeneroux’s Defection Pushes Carney Closer to Majority

                                                      MP Matt Jeneroux Prime Minister Mark Carney’s Liberal government has moved one seat nearer to a majority after Edmonton MP Matt Jeneroux crossed the floor from the Conservatives to join the governing caucus. Jeneroux, who had previously announced plans to resign, instead opted to align himself with Carney’s agenda, becoming the latest in a string of Conservative MPs to defect. Carney welcomed Jeneroux publicly, highlighting his experience and announcing that the Alberta MP will serve as a special adviser on economic and security partnerships. The move spares the government a byelection in Edmonton and adds further momentum to the Liberals’ recent gains, which have included multiple high‑profile floor crossings.  Jeneroux’s decision underscores shifting political dynami...
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Canadian Retail Sales Rebound in December, Boosting Consumer Confidence

 

Canadian consumers went on a holiday shopping spree at the end of last year, after reining in their spending just a month earlier. Receipts for retailers jumped 0.8% in December, the biggest increase since April. This followed a 0.2% decrease in November, which missed the median estimate of a flat reading in a Bloomberg survey. In volume terms, retail sales also edged down 0.2% that month. The early estimate for December suggests sales increased 0.8% that month, but warned the figure is subject to revision.

The rebound in retail sales in December is a positive sign for the Canadian economy. The holiday season is a crucial period for retailers, and the increase in sales indicates that consumer confidence is on the rise. The report also highlights that the pullback in November still highlights some spending weakness for consumers, who are facing higher interest rates and many of whom are due to renew their mortgages this year.


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