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Consumer sentiment improves for 6th month in June

Economy 06:00 June 24, 2021

SEOUL, June 24 (Yonhap) -- South Korea's consumer sentiment increased for the sixth consecutive month in June, as exports showed signs of a strong recovery amid progress in COVID-19 vaccinations, central bank data showed Thursday.

The composite consumer sentiment index (CCSI) came in at 110.3 for June, up 5.1 points from the previous month, according to the data from the Bank of Korea (BOK).

A reading above 100 means optimists outnumber pessimists.

The latest reading marks the sixth on-month gain following a drop in December last year.

South Korea's exports jumped 45.6 percent on-year in May to extend their gains to the seventh consecutive month due to strong demand for chips amid the global economic recovery.

Outbound shipments came to US$50.7 billion last month, compared with $34.8 billion a year earlier, according to government data.

The subindex for people's assessment of current economic conditions was unchanged at 93 in June, while the index gauging people's sentiment toward future economic conditions reached 99 this month, up from 97 in May.

This undated file photo shows apartment complexes in Seoul. (Yonhap)

kdh@yna.co.kr
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