Consumer sentiment rose in August for the fifth consecutive month, hitting its highest point in more than seven years.  

According to the Bank of Korea(BOK) on Tuesday, the composite consumer sentiment index rose to 111-point-four in August, up zero-point-six points from the previous month. 

The index has not shown such a high reading since January 2018, when the figure stood at 111-point-six. 

A reading above 100 indicates that optimists outnumber pessimists. 

The BOK said the rise in consumer sentiment was driven by the government-issued consumption coupons and an increase in stock assets in the bullish market. 

The index that measures consumers’ assessment of current economic conditions rose seven points from a month earlier to 93, while the index that measures consumers’ economic outlook dropped six points to 100.