The Ministry of Economy and Finance said in its monthly report "Green Book" that the South Korean economy's slowdown gradually moderated on the back of signs of a rebound in manufacturing production and export and improved services sector and employment.
The ministry, however, noted that uncertainties remained over the volatility in global crude oil prices, caused by geopolitical risks in the Middle East and the conflict in Europe, amid lingering worry about the prolongation of tightened monetary policy in major economies.
The country's export shrank 4.4 percent in September from a year earlier after reducing 8.3 percent in the previous month.
The number of jobs increased by 309,000 in September on a yearly basis after growing 268,000 in the prior month.
Consumer prices gained 3.7 percent in September from a year earlier after rising 3.4 percent in the previous month.
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