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Liberal Ranks Grow as Michael Ma Joins Carney’s Team

                      Markham-Unionville MP Michael Ma crossed the floor to join the Liberals on Thursday. In a dramatic political shift on Parliament Hill, Michael Ma, the Member of Parliament for Markham–Unionville, announced on December 11, 2025, that he is leaving the Conservative caucus to sit with the Liberals . His decision follows weeks of consultation with constituents and family, and comes on the heels of Nova Scotia MP Chris d’Entremont’s defection last month. Ma explained that his move was motivated by a desire for “unity and decisive action for Canada’s future.” He praised Prime Minister Mark Carney’s leadership, describing it as a steady and practical approach to tackling pressing issues such as affordability, economic growth, community safety, and opportunities for young families. The floor-crossing is politically significant: the Liberals now hold 171 seats, just one short of a majority in the House of...
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U.S. Retail Sales Rebound in February, While Weekly Jobless Claims Decline

In a positive sign for the U.S. economy, retail sales rebounded in February after a challenging start to the year. The Commerce Department’s Census Bureau reported a 0.6% increase in retail sales last month, driven by gains at auto dealerships and gasoline service stations. However, consumer spending is showing signs of slowing down as households grapple with inflation and higher borrowing costs.

Key Points:

  1. Retail Sales Bounce Back: Despite a frigid January that impacted sales, February saw a return to more normal patterns. The data for January was revised lower, showing a 1.1% decline instead of the previously reported 0.8%. Economists had anticipated an 0.8% increase in February, which was slightly surpassed by the actual 0.6% rise.

  2. Core Retail Sales: Excluding automobiles, gasoline, building materials, and food services, core retail sales remained unchanged in February. This measure closely corresponds to the consumer spending component of gross domestic product (GDP). January’s core sales were also revised, showing a 0.3% decrease instead of the previously reported 0.4%.

  3. Consumer Spending and Inflation: While consumer spending remains supported by a tight labor market, households are increasingly focusing on essentials and cutting back on discretionary spending. The Federal Reserve’s interest rate hikes since March 2022 have contributed to higher borrowing costs. Despite these challenges, economists do not foresee an imminent recession.

  4. Weekly Jobless Claims: In a separate report, initial claims for state unemployment benefits fell by 1,000 to a seasonally adjusted 209,000 for the week ending March 9. This decline indicates continued strength in the labor market.

The U.S. economy is navigating a delicate balance between growth and inflation. As we move forward, monitoring consumer behavior and job market trends will be crucial in assessing the overall economic health.

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