Consumer sentiment rises for 3rd month in July on strong exports, investment plans

Consumer sentiment rose for the third consecutive month in July on strong exports and large-scale investment plans, the central bank said Tuesday.

The composite consumer sentiment index (CCSI) stood at 106.8 this month, up 0.2 points from June, according to a survey by the Bank of Korea (BOK).

The index has risen for three straight months since May and stayed over the 100-point mark over the three-month period.

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 84 in July, down 2 points from a month earlier.

The index for people's outlook for future economic conditions remained unchanged at 92 over the same period.

"Despite rising inflation and the volatile stock market, strong chip-led exports, large-scale investment plans and expectations for income hikes pushed up consumer sentiment for the third consecutive month," the BOK said.

South Korea's consumer prices rose 3.2 percent in June from a year earlier, marking the steepest growth since December ...