SEOUL, July 13 (Xinhua) -- South Korea's finance ministry on Friday expressed its worry about economic uncertainties amid the U.S. protectionist moves that would weaken global trade.
The ministry said in its monthly economic report, called Green Book, that the South Korean economy maintained a recovery momentum as seen in the industrial production, which continued to grow for two months in a row.
The government has not changed its economic assessment since December last year, saying the economic recovery lasted.
However, the report said uncertainty spread in the global economy, adding that South Korea's investment and consumption faced a correction phase.
Downside risk factors to the economy would be global trade conflict, the U.S. rate hike and higher global crude oil price, the Green Book noted.
The country's production in all industries grew 0.3 percent in May from a month earlier, keeping an upward trend for the second straight month.
However, facility investment kept falling for three months through May, while construction investment declined 2.2 percent in May.
Private consumption in May reduced 1 percent compared with the previous month, while the labor market situation continued to worsen due to lower workers in the manufacturing sector that creates decent jobs.
Domestic car sales continued in June, while consumer sentiment over economic conditions weakened last month.
Exports, which account for about half of the economy, topped 50 billion U.S. dollars for four months through June, but the June export slightly fell from a year earlier.