Exceptionally, in this Economic Outlook, INSEE is publishing early results from the March 2022 business tendency surveys. These data are still provisional, but were collected from 25 February onwards, just after the start of the war in Ukraine, and from them we can therefore assess the first effects on the morale of business leaders. At this stage, it is above all in industry that the general prospects for activity have declined sharply, although elsewhere, other market sectors also seem to be affected (such as some services and trade). Expectations concerning tensions over prices also appear to be exacerbated by the conflict, whereas the impact on employment looks set to remain limited, in the short term at least. The full results, reflecting all the data collected, will be published by INSEE in the collection Informations Rapides on 24 March, as planned.