Consumer Sentiment Rises for Second Month on Exports, Stock Rally
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South Korea's consumer sentiment index rose for the second straight month in June to 106.6, driven by strong exports, particularly semiconductors, and a stock market rally, despite rising inflation.
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SEOUL, June 23 (Yonhap) -- Consumer sentiment rose for the second consecutive month in June on strong exports and the stock market rally, the central bank said Tuesday.
The composite consumer sentiment index (CCSI) stood at 106.6 this month, up 0.5 points from May, according to a survey by the Bank of Korea (BOK).
It followed a 6.9-point gain in May, the sharpest on-month rise in a year, rebounding from a two-month losing streak in March and April.
The index also stayed over the 100-point mark for the second straight month.
A reading above 100 indicates that optimists outnumber pessimists, while a figure below 100 suggests the opposite.
The subindex for people's assessment of current economic conditions came in at 86 in June, up 3 points from a month earlier.
The index for people's outlook for future economic conditions fell 1 point to 92 over the same period.
"Despite slowing economic conditions stemming from rising inflation, solid exports and the stock market rally helped consumer sentiment rise for the second consecutive month," the BOK said.
South Korea's exports jumped 60.4 percent from a year earlier in the first 20 days of June on robust shipments of semiconductors driven by an artificial intelligence (AI) boom.
However, consumer prices rose 3.1 percent in May from a year earlier amid global energy price volatility, marking the fastest growth in 26 months after rising at the same pace in March 2024.
The central bank has vowed proactive efforts to tame inflation.
