Consumer sentiment in South Korea rose in June for the third consecutive month, hitting a four-year high amid expectations for the new government and its supplementary budget. 

According to the Bank of Korea(BOK) on Tuesday, the composite consumer sentiment index rose to 108-point-seven in June, up six-point-nine points from the previous month. 

The index has not shown such a high reading since June 2021, when the figure stood at 111-point-one. 

A reading above 100 indicates that optimists outnumber pessimists. 

The BOK said the rise in consumer sentiment was driven by eased political uncertainties after the presidential election and expectations for the new government’s supplementary budget and other stimulus measures. 

The subindex that measures consumers’ economic outlook jumped 16 points from a month earlier to 107, while the index for housing prices soared nine points to 120, its highest point since October 2021.