South Korea’s consumer sentiment is improving at an accelerating pace after the launch of the Moon Jae-in administration.

The Bank of Korea(BOK) said on Friday that the nation’s composite consumer sentiment index(CCSI) stood at 108 this month, up by six-point-eight points from April. It is the largest on-month increase since the index jumped by seven-point-five points in August of 2009.

Advancing upward since February, the index rose to the highest point since 108-point-four points in April of 2014, measured right before the sinking of the Sewol ferry.

The CCSI is produced by studying six key indices that gauge consumer confidence. A reading above 100 means optimists outnumber pessimists on economic conditions.