Informations Rapides ·
21 July 2022 · n° 191
In July 2022, the business climate has deteriorated slightly in services Monthly survey of services - July 2022
According to the business managers surveyed in July 2022, the business climate has deteriorated slightly in services. At 107, the business climate indicator that synthesizes has lost one point but remains above its long-term average (100).
According to the business managers surveyed in July 2022, the business climate has deteriorated slightly in services. At 107, the business climate indicator that synthesizes has lost one point but remains above its long-term average (100).
tableauBusiness climate composite indicator
| Business climate composite indicator | |
|---|---|
| 2022-07 | 106.9 |
| 2022-06 | 107.7 |
| 2022-05 | 109.1 |
| 2022-04 | 108.2 |
| 2022-03 | 108.5 |
| 2022-02 | 111.9 |
| 2022-01 | 105.4 |
| 2021-12 | 107.2 |
| 2021-11 | 113.8 |
| 2021-10 | 112.6 |
| 2021-09 | 109.7 |
| 2021-08 | 108.3 |
| 2021-07 | 110.7 |
| 2021-06 | 111.6 |
| 2021-05 | 106.2 |
| 2021-04 | 91.3 |
| 2021-03 | 93.6 |
| 2021-02 | 88.2 |
| 2021-01 | 91.2 |
| 2020-12 | 89.7 |
| 2020-11 | 77.7 |
| 2020-10 | 88.5 |
| 2020-09 | 94.1 |
| 2020-08 | 93.3 |
| 2020-07 | 88.6 |
| 2020-06 | 77.7 |
| 2020-05 | 51.3 |
| 2020-04 | 41.2 |
| 2020-03 | 92.7 |
| 2020-02 | 105.8 |
| 2020-01 | 106.0 |
| 2019-12 | 106.3 |
| 2019-11 | 106.0 |
| 2019-10 | 105.6 |
| 2019-09 | 105.4 |
| 2019-08 | 104.9 |
| 2019-07 | 104.9 |
| 2019-06 | 105.6 |
| 2019-05 | 105.3 |
| 2019-04 | 105.3 |
| 2019-03 | 104.6 |
| 2019-02 | 103.5 |
| 2019-01 | 103.5 |
| 2018-12 | 101.9 |
| 2018-11 | 103.6 |
| 2018-10 | 103.1 |
| 2018-09 | 104.3 |
| 2018-08 | 103.9 |
| 2018-07 | 104.3 |
| 2018-06 | 104.4 |
| 2018-05 | 104.0 |
| 2018-04 | 105.7 |
| 2018-03 | 106.5 |
| 2018-02 | 106.4 |
| 2018-01 | 107.4 |
| 2017-12 | 108.3 |
| 2017-11 | 107.1 |
| 2017-10 | 106.5 |
| 2017-09 | 106.3 |
| 2017-08 | 105.9 |
| 2017-07 | 103.7 |
| 2017-06 | 103.3 |
| 2017-05 | 102.5 |
| 2017-04 | 103.0 |
| 2017-03 | 103.1 |
| 2017-02 | 102.7 |
| 2017-01 | 101.6 |
| 2016-12 | 103.4 |
| 2016-11 | 100.8 |
| 2016-10 | 100.7 |
| 2016-09 | 100.8 |
| 2016-08 | 100.2 |
| 2016-07 | 100.4 |
| 2016-06 | 99.1 |
| 2016-05 | 100.7 |
| 2016-04 | 98.4 |
| 2016-03 | 99.5 |
| 2016-02 | 99.9 |
| 2016-01 | 100.0 |
| 2015-12 | 97.2 |
| 2015-11 | 99.3 |
| 2015-10 | 99.6 |
| 2015-09 | 97.6 |
| 2015-08 | 98.7 |
| 2015-07 | 97.6 |
| 2015-06 | 97.0 |
| 2015-05 | 95.6 |
| 2015-04 | 94.1 |
| 2015-03 | 92.6 |
| 2015-02 | 91.7 |
| 2015-01 | 91.4 |
| 2014-12 | 91.6 |
| 2014-11 | 91.6 |
| 2014-10 | 91.6 |
| 2014-09 | 91.3 |
| 2014-08 | 91.9 |
| 2014-07 | 92.8 |
| 2014-06 | 92.5 |
| 2014-05 | 92.5 |
| 2014-04 | 93.5 |
| 2014-03 | 93.2 |
| 2014-02 | 92.4 |
| 2014-01 | 92.6 |
| 2013-12 | 91.2 |
| 2013-11 | 92.7 |
| 2013-10 | 92.0 |
| 2013-09 | 92.5 |
| 2013-08 | 89.0 |
| 2013-07 | 87.1 |
| 2013-06 | 86.6 |
| 2013-05 | 85.4 |
| 2013-04 | 84.0 |
| 2013-03 | 84.8 |
| 2013-02 | 87.6 |
| 2013-01 | 88.8 |
| 2012-12 | 87.7 |
| 2012-11 | 86.2 |
| 2012-10 | 86.8 |
| 2012-09 | 87.9 |
| 2012-08 | 88.1 |
| 2012-07 | 90.2 |
| 2012-06 | 90.6 |
| 2012-05 | 92.5 |
| 2012-04 | 96.0 |
| 2012-03 | 94.0 |
| 2012-02 | 92.7 |
| 2012-01 | 93.3 |
| 2011-12 | 95.2 |
| 2011-11 | 95.6 |
| 2011-10 | 97.7 |
| 2011-09 | 98.7 |
| 2011-08 | 100.8 |
| 2011-07 | 105.1 |
| 2011-06 | 107.1 |
| 2011-05 | 107.6 |
| 2011-04 | 108.9 |
| 2011-03 | 110.2 |
| 2011-02 | 109.0 |
| 2011-01 | 106.9 |
| 2010-12 | 106.7 |
| 2010-11 | 104.7 |
| 2010-10 | 102.8 |
| 2010-09 | 101.6 |
| 2010-08 | 100.7 |
| 2010-07 | 99.2 |
| 2010-06 | 98.4 |
| 2010-05 | 99.3 |
| 2010-04 | 97.7 |
| 2010-03 | 94.6 |
| 2010-02 | 94.4 |
| 2010-01 | 94.2 |
| 2009-12 | 92.8 |
| 2009-11 | 92.3 |
| 2009-10 | 90.9 |
| 2009-09 | 87.9 |
| 2009-08 | 84.7 |
| 2009-07 | 82.2 |
| 2009-06 | 78.6 |
| 2009-05 | 74.1 |
| 2009-04 | 70.2 |
| 2009-03 | 70.1 |
| 2009-02 | 75.1 |
| 2009-01 | 76.3 |
| 2008-12 | 78.8 |
| 2008-11 | 81.8 |
| 2008-10 | 85.7 |
| 2008-09 | 94.1 |
| 2008-08 | 96.0 |
| 2008-07 | 97.4 |
| 2008-06 | 101.6 |
| 2008-05 | 104.7 |
| 2008-04 | 107.1 |
| 2008-03 | 108.5 |
| 2008-02 | 108.5 |
| 2008-01 | 110.3 |
| 2007-12 | 108.9 |
| 2007-11 | 110.0 |
| 2007-10 | 109.9 |
| 2007-09 | 111.2 |
| 2007-08 | 112.0 |
| 2007-07 | 112.8 |
| 2007-06 | 112.2 |
| 2007-05 | 112.5 |
| 2007-04 | 112.7 |
| 2007-03 | 113.0 |
| 2007-02 | 112.0 |
| 2007-01 | 110.6 |
| 2006-12 | 111.2 |
| 2006-11 | 112.7 |
| 2006-10 | 110.6 |
| 2006-09 | 110.4 |
| 2006-08 | 110.2 |
| 2006-07 | 110.1 |
| 2006-06 | 109.0 |
| 2006-05 | 110.3 |
| 2006-04 | 107.7 |
| 2006-03 | 107.5 |
| 2006-02 | 106.2 |
| 2006-01 | 108.5 |
| 2005-12 | 106.6 |
| 2005-11 | 106.3 |
| 2005-10 | 108.3 |
| 2005-09 | 106.9 |
| 2005-08 | 107.2 |
| 2005-07 | 107.6 |
| 2005-06 | 108.2 |
| 2005-05 | 106.0 |
| 2005-04 | 107.9 |
| 2005-03 | 108.1 |
| 2005-02 | 106.2 |
| 2005-01 | 106.4 |
graphiqueBusiness climate composite indicator
- Source: INSEE
The business managers are less optimistic about the outlook for their sector but remain relatively confident about their own activity
In July 2022, the business managers in services are less optimistic than in the previous month about the general business outlook for their sector: the related balance of opinion has decreased but remains above its average. Conversely, the balance on expected activity has improved very slightly and the one on expected demand is stable, both standing above average. At the same time, the balance on economic uncertainty has decreased.
The balance of opinion on activity over the past three months has decreased slightly but remains well above its average.
The balance of opinion on the recent change in selling prices has increased for the fifth month in a row and has reached a level not seen since 1988. The one on the expected change in selling prices has also increased and therefore remains at a very high level.
tableauExpected prices in services
| Expected prices | |
|---|---|
| 2022-07 | 12.4 |
| 2022-06 | 11.0 |
| 2022-05 | 10.5 |
| 2022-04 | 12.1 |
| 2022-03 | 7.3 |
| 2022-02 | 9.0 |
| 2022-01 | 8.0 |
| 2021-12 | 5.5 |
| 2021-11 | 6.6 |
| 2021-10 | 2.9 |
| 2021-09 | 1.8 |
| 2021-08 | 4.0 |
| 2021-07 | 5.2 |
| 2021-06 | 0.8 |
| 2021-05 | -0.6 |
| 2021-04 | -8.1 |
| 2021-03 | -8.0 |
| 2021-02 | -10.9 |
| 2021-01 | -9.4 |
| 2020-12 | -8.1 |
| 2020-11 | -12.7 |
| 2020-10 | -10.3 |
| 2020-09 | -4.8 |
| 2020-08 | -5.4 |
| 2020-07 | -7.0 |
| 2020-06 | -12.3 |
| 2020-05 | -22.6 |
| 2020-04 | -22.6 |
| 2020-03 | -3.7 |
| 2020-02 | 0.7 |
| 2020-01 | 0.3 |
| 2019-12 | 0.1 |
| 2019-11 | -0.2 |
| 2019-10 | 0.7 |
| 2019-09 | -2.2 |
| 2019-08 | -0.9 |
| 2019-07 | 1.7 |
| 2019-06 | 0.4 |
| 2019-05 | -1.9 |
| 2019-04 | -2.1 |
| 2019-03 | -1.3 |
| 2019-02 | -2.5 |
| 2019-01 | -2.2 |
| 2018-12 | -0.2 |
| 2018-11 | -2.4 |
| 2018-10 | -3.6 |
| 2018-09 | -2.8 |
| 2018-08 | -0.3 |
| 2018-07 | -5.3 |
| 2018-06 | -4.6 |
| 2018-05 | -2.3 |
| 2018-04 | -2.7 |
| 2018-03 | -3.5 |
| 2018-02 | -3.9 |
| 2018-01 | -2.5 |
| 2017-12 | -3.7 |
| 2017-11 | -2.6 |
| 2017-10 | -2.8 |
| 2017-09 | -2.8 |
| 2017-08 | -5.2 |
| 2017-07 | -5.7 |
| 2017-06 | -4.0 |
| 2017-05 | -5.3 |
| 2017-04 | -5.1 |
| 2017-03 | -3.8 |
| 2017-02 | -3.9 |
| 2017-01 | -6.5 |
| 2016-12 | -5.5 |
| 2016-11 | -7.7 |
| 2016-10 | -6.8 |
| 2016-09 | -4.8 |
| 2016-08 | -5.2 |
| 2016-07 | -4.7 |
| 2016-06 | -6.8 |
| 2016-05 | -6.2 |
| 2016-04 | -4.9 |
| 2016-03 | -5.1 |
| 2016-02 | -4.6 |
| 2016-01 | -8.5 |
| 2015-12 | -8.8 |
| 2015-11 | -5.8 |
| 2015-10 | -5.9 |
| 2015-09 | -7.5 |
| 2015-08 | -6.4 |
| 2015-07 | -6.9 |
| 2015-06 | -6.1 |
| 2015-05 | -6.2 |
| 2015-04 | -7.8 |
| 2015-03 | -9.8 |
| 2015-02 | -9.7 |
| 2015-01 | -11.4 |
| 2014-12 | -11.0 |
| 2014-11 | -10.3 |
| 2014-10 | -9.5 |
| 2014-09 | -10.6 |
| 2014-08 | -9.0 |
| 2014-07 | -9.2 |
| 2014-06 | -9.3 |
| 2014-05 | -9.9 |
| 2014-04 | -9.6 |
| 2014-03 | -10.8 |
| 2014-02 | -11.0 |
| 2014-01 | -8.4 |
| 2013-12 | -9.4 |
| 2013-11 | -8.4 |
| 2013-10 | -10.1 |
| 2013-09 | -10.4 |
| 2013-08 | -10.7 |
| 2013-07 | -12.3 |
| 2013-06 | -12.0 |
| 2013-05 | -12.2 |
| 2013-04 | -12.2 |
| 2013-03 | -12.0 |
| 2013-02 | -11.9 |
| 2013-01 | -9.8 |
| 2012-12 | -9.2 |
| 2012-11 | -9.5 |
| 2012-10 | -11.0 |
| 2012-09 | -7.6 |
| 2012-08 | -7.8 |
| 2012-07 | -4.3 |
| 2012-06 | -6.0 |
| 2012-05 | -5.6 |
| 2012-04 | -4.2 |
| 2012-03 | -0.7 |
| 2012-02 | -3.4 |
| 2012-01 | 0.5 |
| 2011-12 | -2.3 |
| 2011-11 | -4.3 |
| 2011-10 | -3.0 |
| 2011-09 | -1.6 |
| 2011-08 | -1.5 |
| 2011-07 | -0.3 |
| 2011-06 | 0.5 |
| 2011-05 | 5.1 |
| 2011-04 | 2.4 |
| 2011-03 | 3.5 |
| 2011-02 | 3.3 |
| 2011-01 | -0.1 |
| 2010-12 | 0.0 |
| 2010-11 | -1.1 |
| 2010-10 | -0.9 |
| 2010-09 | -3.1 |
| 2010-08 | -3.8 |
| 2010-07 | -7.7 |
| 2010-06 | -5.4 |
| 2010-05 | -5.7 |
| 2010-04 | -7.8 |
| 2010-03 | -7.5 |
| 2010-02 | -9.0 |
| 2010-01 | -8.5 |
| 2009-12 | -10.1 |
| 2009-11 | -10.1 |
| 2009-10 | -9.4 |
| 2009-09 | -12.4 |
| 2009-08 | -14.4 |
| 2009-07 | -18.5 |
| 2009-06 | -15.4 |
| 2009-05 | -17.8 |
| 2009-04 | -17.7 |
| 2009-03 | -17.1 |
| 2009-02 | -13.1 |
| 2009-01 | -13.1 |
| 2008-12 | -13.8 |
| 2008-11 | -9.6 |
| 2008-10 | -2.7 |
| 2008-09 | 0.3 |
| 2008-08 | 1.5 |
| 2008-07 | 3.4 |
| 2008-06 | 3.3 |
| 2008-05 | 3.4 |
| 2008-04 | 3.9 |
| 2008-03 | 2.6 |
| 2008-02 | 2.1 |
| 2008-01 | 2.2 |
| 2007-12 | 3.0 |
| 2007-11 | 2.8 |
| 2007-10 | 1.3 |
| 2007-09 | 2.3 |
| 2007-08 | 3.2 |
| 2007-07 | 3.4 |
| 2007-06 | 2.1 |
| 2007-05 | 2.9 |
| 2007-04 | 2.2 |
| 2007-03 | 1.5 |
| 2007-02 | 1.1 |
| 2007-01 | 1.8 |
graphiqueExpected prices in services
- Source: INSEE
Difficulties in recruitment have reached very high levels
Concerning employment, the balance of opinion on the change in the workforce size over the last three months has increased very slightly and remains above its average level. Conversely, the one on the expected workforce size has decreased for the fourth month in a row and has returned to its long-term average, mainly due to temporary work agencies. Besides, more business managers than in last April have reported difficulties in recruitment: at 60%, this proportion stands at its highest level since the beginning of the series (July 2000).
The quarterly balance of opinion on expected investment for the next three months has decreased but remains above its average.
Among the obstacles preventing them from increasing their activity, fewer business managers have reported demand difficulties compared to April – and the proportion remains well below its long-term average – while the share of those experiencing supply difficulties, already well above its average, has increased again.
The quarterly balance on the cash position is virtually stable compared to April, above its average.
tableauEconomic outlook in the services sector
| Average* | Apr. 2022 | May 2022 | Jun. 2022 | Jul. 2022 | |
|---|---|---|---|---|---|
| Composite indicator | 100 | 108 | 109 | 108 | 107 |
| General outlook | -7 | 4 | 6 | 2 | -1 |
| Past activity | 2 | 8 | 10 | 15 | 13 |
| Expected activity | 1 | 8 | 8 | 5 | 6 |
| Expected demand | 0 | 5 | 8 | 4 | 4 |
| Past selling prices | -4 | 8 | 10 | 13 | 14 |
| Expected selling prices | -3 | 12 | 10 | 11 | 12 |
| Past employment | 2 | 0 | -2 | 7 | 8 |
| except temporary work agencies | 0 | 0 | 5 | 5 | 7 |
| Expected employment | 2 | 10 | 8 | 6 | 2 |
| except temporary work agencies | -1 | 9 | 6 | 4 | 8 |
| Cash position | -11 | -5 | -6 | ||
| Difficulties of supply and demand | |||||
| difficulties of supply and demand (in %) | 10 | 5 | 5 | ||
| difficulties of supply only (in %) | 23 | 32 | 34 | ||
| difficulties of demand only (in %) | 29 | 13 | 12 | ||
| Difficulties in recruitment (in %) | 30 | 53 | 60 | ||
| Expected investments | 3 | 10 | 8 | ||
| Economic uncertainty felt** | 12 | 8 | 8 | 10 | 7 |
- * Average since 1989 for the composite indicator and since 1988 for the balances of opinion, except general outlook (June 2000) and uncertainty (April 2021)
- ** Balance of opinion not seasonally adjusted
- Source: INSEE, monthly business survey in services.
The business climate remains favourable in accommodation and food services
In July 2022, in accommodation and food services, the business climate indicator has fallen back but remains at a very high level. In particular, the balance on the general business outlook for the sector has decreased slightly but remains far above its average. The balance of opinion on expected demand has decreased very strongly, but remains above its average too.
In information-communication and in real estate activities, the business climate has improved and stands above its average level. In particular, the balances on expected activity and on expected demand have advanced sharply, above their averages.
In professional, scientific and technical activities, the business climate has improved slightly and stands above its average. Indeed, the forward-looking balances on demand and workforce size have increased sharply and stand above their respective averages.
In road freight transport, the business climate indicator has decreased slightly and has reached its average. In particular, the balance on expected activity has decreased sharply and has moved below its average level.
Finally, in administrative and support services, the business climate indicator has decreased sharply but remains above its average. In particular, the balances on expected activity and expected demand have decreased sharply and have moved below their averages.
tableauBusiness climate composite indicator and balances of opinion by sub-sector in services
| Aggregated classification (NA 2008) at level A21 | Mean* | Apr. 2022 | May 2022 | Jun. 2022 | Jul. 2022 |
|---|---|---|---|---|---|
| Road freight transport (8 %) | |||||
| Composite indicator | 100 | 106 | 102 | 101 | 100 |
| Past activity | -5 | 7 | 6 | 13 | 8 |
| Expected activity | -6 | 3 | -10 | -5 | -10 |
| Expected demand | -8 | -1 | -6 | -13 | -14 |
| Past employment | -5 | -9 | -2 | -10 | -12 |
| Expected employment | -7 | 3 | 0 | -9 | -3 |
| General outlook | -18 | -11 | -12 | -13 | -15 |
| Accommodation and food service activities (11 %) | |||||
| Composite indicator | 100 | 118 | 122 | 121 | 118 |
| Past activity | -7 | 3 | 32 | 34 | 29 |
| Expected activity | -8 | 6 | 9 | 7 | 10 |
| Expected demand | -9 | 22 | 20 | 22 | 8 |
| Past employment | -5 | -2 | 9 | 5 | 8 |
| Expected employment | -6 | 15 | 8 | 5 | 6 |
| General outlook | -14 | 21 | 30 | 23 | 21 |
| Information and communication (26 %) | |||||
| Composite indicator | 100 | 107 | 106 | 105 | 107 |
| Past activity | 7 | 10 | 11 | 15 | 17 |
| Expected activity | 9 | 16 | 14 | 10 | 17 |
| Expected demand | 9 | 6 | 8 | 6 | 13 |
| Past employment | 6 | 15 | 11 | 15 | 23 |
| Expected employment | 10 | 21 | 15 | 18 | 21 |
| General outlook | 0 | 10 | 9 | 5 | 1 |
| Real estate activities (11 %) | |||||
| Composite indicator | 100 | 106 | 106 | 104 | 106 |
| Past activity | 7 | 9 | 7 | 14 | 16 |
| Expected activity | 6 | 8 | 12 | 4 | 11 |
| Expected demand | 2 | 6 | 9 | 2 | 7 |
| Past employment | 3 | 6 | 5 | 5 | -1 |
| Expected employment | 3 | 8 | 8 | 11 | 4 |
| General outlook | -4 | 0 | 2 | -3 | -3 |
| Professionnel, scientific and technical activities (24 %) | |||||
| Composite indicator | 100 | 105 | 110 | 107 | 108 |
| Past activity | -1 | 7 | 6 | 6 | 4 |
| Expected activity | -2 | 0 | 6 | 2 | 2 |
| Expected demand | -5 | -6 | 2 | -3 | 0 |
| Past employment | 1 | 2 | 2 | 3 | 14 |
| Expected employment | 0 | 7 | 9 | 4 | 15 |
| General outlook | -8 | -1 | 6 | 4 | 0 |
| Administrative and support service activities (18 %) | |||||
| Composite indicator | 100 | 107 | 107 | 109 | 102 |
| Past activity | 5 | 13 | 5 | 20 | 16 |
| Expected activity | 5 | 11 | 9 | 15 | 3 |
| Expected demand | 3 | 11 | 16 | 12 | 2 |
| Past employment | 8 | -6 | -15 | 8 | 8 |
| Expected employment | 7 | 5 | 7 | 6 | -15 |
| General outlook | -3 | 11 | 11 | 9 | 4 |
- The figures in parentheses indicate the weights used to aggregate the sub-sector balances of opinion.
- *Composite indicator: average since 1989 (2006 for road transport); balances of opinion: average since 1988, except general outlook since June 2000 (2006 for road transport)
- Source: INSEE, monthly business survey in services.
Revision
The business climate indicator in services of June 2022 has not been revised (after rounding).
For further information
The composite indicators of business climate presented here are estimated independently of one another. Thus, that of the whole services cannot be deduced from the others. The same balances of opinion are included into their calculations, but they are not assigned the same weightings. Also, the indicators are scaled to have a long-run average of 100 and a standard deviation of 10. The climate series do not have the same historical beginning, so their standardisation differs slightly. Discrepancies may therefore appear from time to time.
For the three-modality questions, a balance of opinion is calculated as the difference between the weighted percentage of “increase” responses and the weighted percentage of “decrease” responses.
Since the definitive data of April 2020, the way of correcting mode of non-response has been modified. The usual method was to fill in missing answers by carrying on past answers from non-responding companies. The results are now computed on the sole basis of responding companies.
The responses to this survey were collected between 27 June and 18 July 2022.
Additional information (simplified and detailed methodology, nomenclature, etc.) is available on the “Documentation” tab of the web page of this publication.
Next issue: 25 August 2022 at 8:45 am.
Documentation
Changes to business tendency surveys – October 2021 (pdf,181 Ko)
Abbreviated methodology (in French) (pdf,193 Ko)
Pour en savoir plus
The composite indicators of business climate presented here are estimated independently of one another. Thus, that of the whole services cannot be deduced from the others. The same balances of opinion are included into their calculations, but they are not assigned the same weightings. Also, the indicators are scaled to have a long-run average of 100 and a standard deviation of 10. The climate series do not have the same historical beginning, so their standardisation differs slightly. Discrepancies may therefore appear from time to time.
For the three-modality questions, a balance of opinion is calculated as the difference between the weighted percentage of “increase” responses and the weighted percentage of “decrease” responses.
Since the definitive data of April 2020, the way of correcting mode of non-response has been modified. The usual method was to fill in missing answers by carrying on past answers from non-responding companies. The results are now computed on the sole basis of responding companies.
The responses to this survey were collected between 27 June and 18 July 2022.
Additional information (simplified and detailed methodology, nomenclature, etc.) is available on the “Documentation” tab of the web page of this publication.
Next issue: 25 August 2022 at 8:45 am.