SEOUL, Aug. 26 (Xinhua) -- South Korea's consumer sentiment improved for the fifth straight month due to a recovery in consumption and exports, central bank data showed Tuesday.
The composite consumer sentiment index, which measures consumers' sentiment regarding the economic situation, rose 0.6 points to 111.4 in August, continuing its upward trend since April, according to the Bank of Korea.
The consecutive growth was attributed to a recovery in consumption and exports that offset the negative effect of the U.S. tariff imposition.
The new government of President Lee Jae-myung, who took office in early June, implemented its extra budget plan to provide a case handout, which was aimed at bolstering consumer demand.
The country's exports grew 5.9 percent in July from a year earlier, keeping an upward trend for two straight months.
The sub-index for the current economic situation advanced 7 points to 93 in August compared to the previous month, but the index for economic outlook declined 6 points to 100.
The index for prospective consumption expenditure was unchanged at 111 in the cited month.
Inflation expectations, which measure the outlook among consumers over headline inflation for the next 12 months, climbed 0.1 percentage point to 2.6 percent in August on a monthly basis.
After peaking at 4.7 percent in July 2022, the inflation expectations had been roughly on the decline.
The result was based on a survey of 2,278 households conducted from Aug. 11 to 19. ■
