07/31/2015 11:33 EDT | Updated 07/31/2015 11:59 EDT

Marc Garneau: Conservatives' Economic Record Ruined

OTTAWA — Liberal MP Marc Garneau says the Conservative record as good managers of the economy is in tatters in the run-up to the federal election.

Statistics Canada reported Friday that the economy shrank in May, marking five consecutive months of decline in the gross domestic product.

If the trend holds true in June, Canada would earn the label of being in a technical recession, which is two consecutive quarters of negative growth.

The June numbers won't be available until September, just as the election campaign is slated to heat up.

Garneau says the new data show that Conservative management of the economy has been a failure, with a shrinking economy, high trade deficit and stubborn unemployment figures.

He says Prime Minister Stephen Harper will have to convince voters in the coming campaign that he's still the right person to run the economy.

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