The South Korean government assessed that the economic recovery has slowed down due to a resurgence of COVID-19 in mid-August.

In its monthly economic report on Friday, the Finance Ministry said despite signs of renewed export momentum, the resurgence of the virus and heightened quarantine measures have hampered recovery in domestic consumption and employment.

The report added that uncertainties persist surrounding the real economy because of the uptick in virus cases.

In September, domestic credit card spending rose six-point-four percent on-year, while automobile sales jumped 19-point-three percent.

The nation's overall industrial production fell point-nine percent on-month in August, marking the first monthly decline in three months.

Externally, the ministry said concerns over a delayed global economic recovery continue amid the virus' resurgence and increased conflict between countries, despite financial markets stabilizing and improvements in real-economy indicators.