The South Korean government has maintained its assessment that the domestic economy is on a path to recovery.

In its monthly report on Friday, the Finance Ministry said the overall recovery pace is being maintained, citing rebounds in industrial output and construction investment.

The ministry, however, pointed out that facility investment and private spending recently faced adjustments.

The country's overall industrial output rose one-point-six percent on-month in April, following the previous month's point-nine percent decline. 

Retail sales declined one percent on-month in April, and facility investments dipped three-point-three percent during the same period.

While anticipating a continued recovery at home, the report added the country's weaker job market and rate hikes in the U.S. could pose downside risks.