26 July 2019
2019- n° 192In July 2019, households’ confidence has slightly improved Monthly consumer confidence survey - July 2019
In July 2019, households’ confidence in the economic situation has increased for the seventh consecutive month. The synthetic index has gained 1 point. At 102, it is slightly above its long term average (100) and is back to its early 2018 level.
In July 2019, households’ confidence in the economic situation has increased for the seventh consecutive month. The synthetic index has gained 1 point. At 102, it is slightly above its long term average (100) and is back to its early 2018 level.
tableauConsumer confidence synthetic index
Consumer confidence synthetic index | |
---|---|
2000-01 | 118 |
2000-02 | 118 |
2000-03 | 119 |
2000-04 | 122 |
2000-05 | 122 |
2000-06 | 122 |
2000-07 | 123 |
2000-08 | 121 |
2000-09 | 118 |
2000-10 | 119 |
2000-11 | 119 |
2000-12 | 123 |
2001-01 | 126 |
2001-02 | 124 |
2001-03 | 122 |
2001-04 | 120 |
2001-05 | 116 |
2001-06 | 114 |
2001-07 | 114 |
2001-08 | 112 |
2001-09 | 110 |
2001-10 | 111 |
2001-11 | 112 |
2001-12 | 112 |
2002-01 | 112 |
2002-02 | 111 |
2002-03 | 111 |
2002-04 | 109 |
2002-05 | 112 |
2002-06 | 111 |
2002-07 | 109 |
2002-08 | 108 |
2002-09 | 106 |
2002-10 | 107 |
2002-11 | 108 |
2002-12 | 108 |
2003-01 | 104 |
2003-02 | 102 |
2003-03 | 98 |
2003-04 | 99 |
2003-05 | 101 |
2003-06 | 101 |
2003-07 | 100 |
2003-08 | 100 |
2003-09 | 99 |
2003-10 | 98 |
2003-11 | 98 |
2003-12 | 99 |
2004-01 | 99 |
2004-02 | 98 |
2004-03 | 99 |
2004-04 | 101 |
2004-05 | 100 |
2004-06 | 99 |
2004-07 | 99 |
2004-08 | 100 |
2004-09 | 102 |
2004-10 | 101 |
2004-11 | 100 |
2004-12 | 99 |
2005-01 | 97 |
2005-02 | 99 |
2005-03 | 97 |
2005-04 | 97 |
2005-05 | 95 |
2005-06 | 94 |
2005-07 | 94 |
2005-08 | 93 |
2005-09 | 92 |
2005-10 | 92 |
2005-11 | 92 |
2005-12 | 95 |
2006-01 | 97 |
2006-02 | 98 |
2006-03 | 97 |
2006-04 | 96 |
2006-05 | 95 |
2006-06 | 96 |
2006-07 | 98 |
2006-08 | 98 |
2006-09 | 99 |
2006-10 | 99 |
2006-11 | 99 |
2006-12 | 98 |
2007-01 | 99 |
2007-02 | 99 |
2007-03 | 101 |
2007-04 | 101 |
2007-05 | 108 |
2007-06 | 108 |
2007-07 | 107 |
2007-08 | 104 |
2007-09 | 101 |
2007-10 | 100 |
2007-11 | 94 |
2007-12 | 94 |
2008-01 | 90 |
2008-02 | 90 |
2008-03 | 89 |
2008-04 | 88 |
2008-05 | 85 |
2008-06 | 82 |
2008-07 | 81 |
2008-08 | 82 |
2008-09 | 84 |
2008-10 | 82 |
2008-11 | 83 |
2008-12 | 83 |
2009-01 | 84 |
2009-02 | 84 |
2009-03 | 84 |
2009-04 | 86 |
2009-05 | 86 |
2009-06 | 89 |
2009-07 | 89 |
2009-08 | 89 |
2009-09 | 90 |
2009-10 | 90 |
2009-11 | 93 |
2009-12 | 94 |
2010-01 | 94 |
2010-02 | 92 |
2010-03 | 91 |
2010-04 | 89 |
2010-05 | 88 |
2010-06 | 87 |
2010-07 | 87 |
2010-08 | 89 |
2010-09 | 90 |
2010-10 | 91 |
2010-11 | 93 |
2010-12 | 90 |
2011-01 | 89 |
2011-02 | 89 |
2011-03 | 87 |
2011-04 | 86 |
2011-05 | 87 |
2011-06 | 86 |
2011-07 | 89 |
2011-08 | 86 |
2011-09 | 84 |
2011-10 | 87 |
2011-11 | 84 |
2011-12 | 83 |
2012-01 | 84 |
2012-02 | 85 |
2012-03 | 89 |
2012-04 | 90 |
2012-05 | 92 |
2012-06 | 92 |
2012-07 | 89 |
2012-08 | 86 |
2012-09 | 85 |
2012-10 | 84 |
2012-11 | 84 |
2012-12 | 86 |
2013-01 | 85 |
2013-02 | 86 |
2013-03 | 83 |
2013-04 | 84 |
2013-05 | 80 |
2013-06 | 79 |
2013-07 | 83 |
2013-08 | 85 |
2013-09 | 86 |
2013-10 | 87 |
2013-11 | 84 |
2013-12 | 85 |
2014-01 | 86 |
2014-02 | 85 |
2014-03 | 88 |
2014-04 | 86 |
2014-05 | 85 |
2014-06 | 85 |
2014-07 | 87 |
2014-08 | 86 |
2014-09 | 86 |
2014-10 | 86 |
2014-11 | 87 |
2014-12 | 90 |
2015-01 | 90 |
2015-02 | 92 |
2015-03 | 94 |
2015-04 | 95 |
2015-05 | 93 |
2015-06 | 93 |
2015-07 | 93 |
2015-08 | 94 |
2015-09 | 97 |
2015-10 | 96 |
2015-11 | 96 |
2015-12 | 96 |
2016-01 | 97 |
2016-02 | 96 |
2016-03 | 95 |
2016-04 | 94 |
2016-05 | 98 |
2016-06 | 96 |
2016-07 | 95 |
2016-08 | 96 |
2016-09 | 97 |
2016-10 | 98 |
2016-11 | 99 |
2016-12 | 99 |
2017-01 | 100 |
2017-02 | 101 |
2017-03 | 101 |
2017-04 | 100 |
2017-05 | 102 |
2017-06 | 108 |
2017-07 | 104 |
2017-08 | 103 |
2017-09 | 101 |
2017-10 | 100 |
2017-11 | 103 |
2017-12 | 105 |
2018-01 | 105 |
2018-02 | 100 |
2018-03 | 100 |
2018-04 | 101 |
2018-05 | 99 |
2018-06 | 96 |
2018-07 | 96 |
2018-08 | 96 |
2018-09 | 94 |
2018-10 | 95 |
2018-11 | 92 |
2018-12 | 87 |
2019-01 | 92 |
2019-02 | 95 |
2019-03 | 96 |
2019-04 | 97 |
2019-05 | 99 |
2019-06 | 101 |
2019-07 | 102 |
graphiqueConsumer confidence synthetic index
Personal situation
Suitable time to make major purchases: increasing again
In July, the share of households considering it is a suitable time to make major purchases has increased for the seventh consecutive month. The corresponding balance has gained 3 points and remains above its long term average.
In addition, households’ opinion balance on their future personal situation has been virtually stable: it has gained 1 point and thus exceeds slightly its long term average. Households’ opinion balance regarding their past financial situation has also gained 1 point and reaches its long term average.
Saving capacity: virtually stability
In July, households’ opinion balances on their current and expected saving capacities have been virtually stable. Both balances have gained 1 point and stand clearly above their long term average.
The share of households considering it is a suitable time to save has also been virtually stable: the corresponding balance has lost 1 point and clearly remains below its long term average.
tableauBalances on personal financial situation and standard of living in France
Standard of living, future | Standard of living, past | Financial situation, future | Financial situation, past | |
---|---|---|---|---|
2010-01 | -32 | -62 | -9 | -24 |
2010-02 | -34 | -67 | -12 | -27 |
2010-03 | -40 | -69 | -13 | -26 |
2010-04 | -46 | -69 | -16 | -27 |
2010-05 | -52 | -69 | -19 | -27 |
2010-06 | -55 | -71 | -19 | -27 |
2010-07 | -49 | -71 | -19 | -30 |
2010-08 | -43 | -66 | -18 | -29 |
2010-09 | -42 | -64 | -18 | -28 |
2010-10 | -40 | -64 | -15 | -28 |
2010-11 | -38 | -64 | -11 | -23 |
2010-12 | -42 | -68 | -16 | -26 |
2011-01 | -44 | -70 | -18 | -26 |
2011-02 | -46 | -67 | -18 | -27 |
2011-03 | -51 | -69 | -23 | -29 |
2011-04 | -56 | -71 | -21 | -31 |
2011-05 | -49 | -68 | -20 | -31 |
2011-06 | -48 | -68 | -21 | -33 |
2011-07 | -42 | -67 | -18 | -31 |
2011-08 | -56 | -71 | -23 | -30 |
2011-09 | -55 | -75 | -24 | -31 |
2011-10 | -51 | -73 | -21 | -29 |
2011-11 | -59 | -74 | -25 | -30 |
2011-12 | -57 | -74 | -30 | -32 |
2012-01 | -54 | -73 | -27 | -32 |
2012-02 | -49 | -73 | -26 | -32 |
2012-03 | -40 | -68 | -19 | -29 |
2012-04 | -38 | -66 | -16 | -29 |
2012-05 | -30 | -65 | -16 | -26 |
2012-06 | -30 | -68 | -16 | -27 |
2012-07 | -43 | -69 | -19 | -27 |
2012-08 | -51 | -72 | -19 | -29 |
2012-09 | -57 | -75 | -21 | -29 |
2012-10 | -60 | -73 | -25 | -29 |
2012-11 | -55 | -73 | -25 | -31 |
2012-12 | -54 | -69 | -23 | -29 |
2013-01 | -58 | -69 | -25 | -28 |
2013-02 | -56 | -71 | -24 | -27 |
2013-03 | -61 | -75 | -26 | -29 |
2013-04 | -62 | -76 | -25 | -28 |
2013-05 | -63 | -79 | -26 | -37 |
2013-06 | -66 | -80 | -27 | -35 |
2013-07 | -57 | -77 | -24 | -34 |
2013-08 | -50 | -73 | -22 | -33 |
2013-09 | -46 | -72 | -20 | -33 |
2013-10 | -45 | -69 | -18 | -35 |
2013-11 | -53 | -75 | -19 | -34 |
2013-12 | -50 | -73 | -22 | -34 |
2014-01 | -48 | -71 | -19 | -35 |
2014-02 | -52 | -72 | -20 | -34 |
2014-03 | -47 | -69 | -19 | -29 |
2014-04 | -45 | -70 | -27 | -32 |
2014-05 | -50 | -70 | -23 | -33 |
2014-06 | -48 | -69 | -20 | -36 |
2014-07 | -49 | -70 | -17 | -32 |
2014-08 | -47 | -70 | -20 | -33 |
2014-09 | -51 | -71 | -20 | -30 |
2014-10 | -50 | -74 | -20 | -31 |
2014-11 | -48 | -68 | -17 | -33 |
2014-12 | -44 | -67 | -16 | -27 |
2015-01 | -42 | -67 | -17 | -29 |
2015-02 | -37 | -61 | -15 | -27 |
2015-03 | -34 | -59 | -13 | -27 |
2015-04 | -35 | -57 | -12 | -24 |
2015-05 | -34 | -58 | -14 | -27 |
2015-06 | -35 | -58 | -12 | -27 |
2015-07 | -36 | -59 | -12 | -29 |
2015-08 | -33 | -57 | -12 | -29 |
2015-09 | -28 | -52 | -6 | -26 |
2015-10 | -30 | -54 | -10 | -24 |
2015-11 | -31 | -53 | -10 | -24 |
2015-12 | -31 | -54 | -7 | -26 |
2016-01 | -27 | -56 | -9 | -24 |
2016-02 | -32 | -56 | -10 | -24 |
2016-03 | -35 | -57 | -12 | -24 |
2016-04 | -36 | -57 | -13 | -25 |
2016-05 | -28 | -48 | -10 | -25 |
2016-06 | -33 | -53 | -10 | -23 |
2016-07 | -32 | -53 | -10 | -29 |
2016-08 | -34 | -54 | -10 | -22 |
2016-09 | -29 | -54 | -9 | -23 |
2016-10 | -28 | -53 | -7 | -23 |
2016-11 | -25 | -48 | -7 | -24 |
2016-12 | -24 | -52 | -8 | -22 |
2017-01 | -26 | -48 | -5 | -22 |
2017-02 | -23 | -48 | -5 | -22 |
2017-03 | -23 | -48 | -7 | -20 |
2017-04 | -22 | -50 | -10 | -19 |
2017-05 | -17 | -45 | -6 | -19 |
2017-06 | 1 | -39 | -4 | -14 |
2017-07 | -11 | -40 | -11 | -18 |
2017-08 | -20 | -41 | -9 | -17 |
2017-09 | -20 | -41 | -10 | -21 |
2017-10 | -23 | -39 | -15 | -21 |
2017-11 | -17 | -38 | -10 | -19 |
2017-12 | -15 | -31 | -10 | -17 |
2018-01 | -19 | -31 | -12 | -16 |
2018-02 | -24 | -35 | -18 | -23 |
2018-03 | -24 | -40 | -12 | -24 |
2018-04 | -22 | -35 | -11 | -26 |
2018-05 | -28 | -39 | -14 | -25 |
2018-06 | -32 | -46 | -14 | -27 |
2018-07 | -32 | -47 | -12 | -28 |
2018-08 | -29 | -47 | -12 | -30 |
2018-09 | -36 | -50 | -16 | -30 |
2018-10 | -31 | -52 | -16 | -30 |
2018-11 | -43 | -57 | -17 | -28 |
2018-12 | -41 | -67 | -22 | -33 |
2019-01 | -31 | -64 | -14 | -28 |
2019-02 | -29 | -56 | -12 | -25 |
2019-03 | -29 | -53 | -10 | -26 |
2019-04 | -29 | -53 | -8 | -25 |
2019-05 | -25 | -50 | -5 | -23 |
2019-06 | -23 | -43 | -6 | -22 |
2019-07 | -23 | -41 | -5 | -21 |
graphiqueBalances on personal financial situation and standard of living in France
tableauCONSUMER OPINION: synthetic index and opinion balances
Avg. (1) | April 19 | May 19 | June 19 | July 19 | |
---|---|---|---|---|---|
Synthetic index (2) | 100 | 97 | 99 | 101 | 102 |
Financial sit., past 12 m. | -21 | -25 | -23 | -22 | -21 |
Financial sit., next 12 m. | -6 | -8 | -5 | -6 | -5 |
Current saving capacity | 8 | 10 | 11 | 12 | 13 |
Expected saving capacity | -9 | -8 | -5 | -2 | -1 |
Savings intentions, next 12 m. | 17 | 12 | 10 | 9 | 8 |
Major purchases intentions, next 12 m. | -14 | -15 | -13 | -11 | -8 |
Standard of living, past 12 m. | -45 | -53 | -50 | -43 | -41 |
Standard of living, next 12 m. | -25 | -29 | -25 | -23 | -23 |
Unemployment, next 12 m. | 33 | 26 | 16 | 16 | 14 |
Consumer prices, past 12 m. | -17 | -20 | -20 | -19 | -25 |
Consumer prices, next 12 m. | -33 | -21 | -22 | -22 | -23 |
- (1) Average value between January 1987 and December 2018
- (2) The indicator is normalised in such a way that its average equals 100 and standard error equals 10 over the estimation period (1987–2018).
- Source: INSEE, monthly consumer confidence survey
Economic situation in France
Past standard of living in France: rising slightly
In July, the share of households considering that the past standard of living in France has improved during the past twelve months has increased for the seventh consecutive month: the corresponding balance has gained 2 points and remains above its long term average.
Households’ opinion balance about the future standard of living in France has remained unchanged. It stands slightly above its long term average.
Unemployment: fears slightly decreasing
Households' fears about the unemployment trend have slightly decreased in July: the corresponding balance has lost 2 points in comparison to its June level. It remains well below its long term average.
Perceived inflation: decreasing strongly
In July, the share of households considering that prices were on the rise during the past twelve months has lost 6 points. The corresponding balance stands clearly below its long term average. However, the share of households considering that prices will be on the rise during the next twelve months has been virtually stable: the corresponding balance has lost 1 point but remains clearly above its long term average.
tableauHouseholds' unemployment expectations
Households' unemployment expectations | |
---|---|
2010-01 | 55 |
2010-02 | 49 |
2010-03 | 58 |
2010-04 | 57 |
2010-05 | 58 |
2010-06 | 65 |
2010-07 | 59 |
2010-08 | 46 |
2010-09 | 31 |
2010-10 | 34 |
2010-11 | 35 |
2010-12 | 34 |
2011-01 | 37 |
2011-02 | 41 |
2011-03 | 33 |
2011-04 | 35 |
2011-05 | 27 |
2011-06 | 29 |
2011-07 | 37 |
2011-08 | 51 |
2011-09 | 57 |
2011-10 | 49 |
2011-11 | 61 |
2011-12 | 59 |
2012-01 | 57 |
2012-02 | 56 |
2012-03 | 52 |
2012-04 | 55 |
2012-05 | 43 |
2012-06 | 53 |
2012-07 | 65 |
2012-08 | 73 |
2012-09 | 73 |
2012-10 | 73 |
2012-11 | 70 |
2012-12 | 74 |
2013-01 | 72 |
2013-02 | 73 |
2013-03 | 77 |
2013-04 | 74 |
2013-05 | 78 |
2013-06 | 78 |
2013-07 | 61 |
2013-08 | 56 |
2013-09 | 51 |
2013-10 | 37 |
2013-11 | 62 |
2013-12 | 48 |
2014-01 | 55 |
2014-02 | 55 |
2014-03 | 54 |
2014-04 | 57 |
2014-05 | 61 |
2014-06 | 67 |
2014-07 | 67 |
2014-08 | 62 |
2014-09 | 67 |
2014-10 | 52 |
2014-11 | 66 |
2014-12 | 65 |
2015-01 | 66 |
2015-02 | 58 |
2015-03 | 43 |
2015-04 | 61 |
2015-05 | 62 |
2015-06 | 61 |
2015-07 | 58 |
2015-08 | 50 |
2015-09 | 44 |
2015-10 | 47 |
2015-11 | 36 |
2015-12 | 45 |
2016-01 | 36 |
2016-02 | 44 |
2016-03 | 39 |
2016-04 | 51 |
2016-05 | 26 |
2016-06 | 26 |
2016-07 | 28 |
2016-08 | 33 |
2016-09 | 28 |
2016-10 | 30 |
2016-11 | 28 |
2016-12 | 19 |
2017-01 | 18 |
2017-02 | 19 |
2017-03 | 21 |
2017-04 | 16 |
2017-05 | 23 |
2017-06 | 6 |
2017-07 | 10 |
2017-08 | -2 |
2017-09 | 15 |
2017-10 | 12 |
2017-11 | 4 |
2017-12 | 6 |
2018-01 | 0 |
2018-02 | 4 |
2018-03 | 5 |
2018-04 | 4 |
2018-05 | 5 |
2018-06 | 17 |
2018-07 | 16 |
2018-08 | 23 |
2018-09 | 20 |
2018-10 | 6 |
2018-11 | 28 |
2018-12 | 30 |
2019-01 | 32 |
2019-02 | 11 |
2019-03 | 21 |
2019-04 | 26 |
2019-05 | 16 |
2019-06 | 16 |
2019-07 | 14 |
graphiqueHouseholds' unemployment expectations
tableauHouseholds' perception of prices
Past prices | Future prices | |
---|---|---|
2010-01 | -14 | -41 |
2010-02 | -19 | -41 |
2010-03 | -19 | -39 |
2010-04 | -10 | -34 |
2010-05 | -11 | -28 |
2010-06 | -10 | -29 |
2010-07 | -6 | -27 |
2010-08 | -4 | -24 |
2010-09 | -2 | -29 |
2010-10 | 0 | -25 |
2010-11 | 3 | -25 |
2010-12 | 9 | -22 |
2011-01 | 18 | -19 |
2011-02 | 25 | -9 |
2011-03 | 30 | 6 |
2011-04 | 46 | 0 |
2011-05 | 40 | -13 |
2011-06 | 33 | -14 |
2011-07 | 32 | -18 |
2011-08 | 27 | -18 |
2011-09 | 25 | -20 |
2011-10 | 22 | -23 |
2011-11 | 20 | -15 |
2011-12 | 19 | -16 |
2012-01 | 21 | -16 |
2012-02 | 23 | -11 |
2012-03 | 22 | -21 |
2012-04 | 27 | -20 |
2012-05 | 12 | -32 |
2012-06 | 12 | -34 |
2012-07 | -2 | -25 |
2012-08 | -1 | -16 |
2012-09 | 3 | -13 |
2012-10 | -1 | -15 |
2012-11 | -4 | -14 |
2012-12 | -7 | -19 |
2013-01 | -8 | -19 |
2013-02 | -10 | -22 |
2013-03 | -10 | -14 |
2013-04 | -13 | -20 |
2013-05 | -16 | -17 |
2013-06 | -11 | -19 |
2013-07 | -8 | -17 |
2013-08 | -3 | -21 |
2013-09 | 4 | -25 |
2013-10 | -8 | -21 |
2013-11 | -8 | -22 |
2013-12 | -8 | -17 |
2014-01 | -15 | -15 |
2014-02 | -19 | -22 |
2014-03 | -23 | -28 |
2014-04 | -24 | -29 |
2014-05 | -23 | -26 |
2014-06 | -28 | -31 |
2014-07 | -31 | -31 |
2014-08 | -35 | -37 |
2014-09 | -40 | -33 |
2014-10 | -38 | -28 |
2014-11 | -38 | -36 |
2014-12 | -46 | -43 |
2015-01 | -50 | -45 |
2015-02 | -51 | -45 |
2015-03 | -53 | -48 |
2015-04 | -51 | -43 |
2015-05 | -56 | -40 |
2015-06 | -54 | -38 |
2015-07 | -52 | -37 |
2015-08 | -50 | -36 |
2015-09 | -52 | -41 |
2015-10 | -50 | -41 |
2015-11 | -50 | -39 |
2015-12 | -51 | -39 |
2016-01 | -52 | -41 |
2016-02 | -56 | -39 |
2016-03 | -58 | -37 |
2016-04 | -58 | -37 |
2016-05 | -53 | -39 |
2016-06 | -53 | -36 |
2016-07 | -51 | -37 |
2016-08 | -51 | -35 |
2016-09 | -45 | -35 |
2016-10 | -52 | -38 |
2016-11 | -52 | -38 |
2016-12 | -48 | -29 |
2017-01 | -44 | -23 |
2017-02 | -46 | -31 |
2017-03 | -47 | -26 |
2017-04 | -51 | -27 |
2017-05 | -56 | -34 |
2017-06 | -56 | -41 |
2017-07 | -53 | -31 |
2017-08 | -54 | -32 |
2017-09 | -54 | -30 |
2017-10 | -49 | -24 |
2017-11 | -45 | -26 |
2017-12 | -46 | -34 |
2018-01 | -41 | -14 |
2018-02 | -34 | -20 |
2018-03 | -39 | -24 |
2018-04 | -40 | -26 |
2018-05 | -30 | -18 |
2018-06 | -26 | -20 |
2018-07 | -25 | -21 |
2018-08 | -25 | -22 |
2018-09 | -14 | -17 |
2018-10 | -13 | -15 |
2018-11 | -10 | -11 |
2018-12 | -10 | -24 |
2019-01 | -33 | -39 |
2019-02 | -28 | -18 |
2019-03 | -20 | -23 |
2019-04 | -20 | -21 |
2019-05 | -20 | -22 |
2019-06 | -19 | -22 |
2019-07 | -25 | -23 |
graphiqueHouseholds' perception of prices
For more information
Definition – The synthetic households’ confidence index summarizes households’ opinion on the economic situation: the higher its value, the more favorable households’ judgment of the economic situation is. It is calculated using a factor analysis technique, which enables to summarize concomitant movements of highly correlated variables. The index describes here the common factor of 8 balances of opinion: past and future general economic situation in France, past and future personal financial situation, unemployment, major purchases intentions, current savings capacity and expected savings capacity.
Calculation method – Around 2,000 households are surveyed by telephone, during the first three weeks of each month. Answers to this survey were collected between June 26 and July 18 2019.For each question, a balance of opinion is calculated as the difference between the percentages of positive and negative answers. Since the level of these balances is not open to direct interpretation, comments are based on their changes and their distance to their long–term average. Seasonal coefficients are calculated again every month, hence the slight revision of the seasonal adjusted balances history at each publication. Moreover, long term averages and seasonal coefficient models have been updated for this publication, thanks to the integration of a complete year of additional data.
Next publication: August 27 at 8:45 am