S.Korea says facing downside risks despite recovery

SEOUL Aug 5 (Reuters) - South Korea's economy continues to face downside risks including slowing recoveries in major markets but is still improving fast, the finance ministry said on Thursday.

The country will manage macroeconomic policy to help the economy recover for the longer term, the Ministry of Strategy and Finance said in its monthly Green Book report of preliminary economic indicators.

Annual growth in the country's department store sales in July slowed to 8.6 percent from a 10.8 percent rise in June, the ministry said. (Reporting by Cheon Jong-woo; Editing by Jonathan Hopfner)