Economic recovery 'extremely fragile': Harper
Southern Ontario, small forestry towns remain hard-hit, prime minister says
While the recession may be technically over, the economic recovery is "extremely fragile" Prime Minister Stephen Harper said Monday.
Harper said key sectors in Canada, including southern Ontario's automotive industry and the small towns that make up the forestry industry, remain among the hardest-hit in the country and continue to need attention.
"I think that the recovery, while it exists, is extremely fragile and does require concentration at all levels," he told a crowd at Guelph, Ont.-based Linamar Corp.'s technology training centre.
Harper was at the training centre to announce a repayable contribution of $54.8 million in funding to Linamar for the development of green and fuel-efficient automotive technologies.
Linamar, Canada's second-largest auto parts manufacturer after Magna International, has over $2.2 billion in global sales and 9,000 employees worldwide.
Harper called the investment a "key part" of the federal government's economic action plan to counter the impact of the global recession.
Central banks in both Canada and the United States have signaled that the economies in both countries have begun to climb out of recession.