Canada is not yet out of recession, PM says

CHELSEA, Quebec Aug 14 (Reuters) - Canada is not yet out of the recession that has gripped the world, Prime Minister Stephen Harper said on Friday, adding that now is not the time for opposition parties to be contemplating an election.

Canadian officials are expressing caution over the economy, saying that while there are signs the worst of the recession is over, they are not declaring victory yet.

"Canada is not yet out of this world recession. We must continue our efforts, we have to persevere. Now is not the time for political instability," Harper told a news conference in the Quebec town of Chelsea. (Reporting by Blair Gable, writing by David Ljunggren; editing by Peter Galloway)