Informations rapides
29 September 2020
2020- n° 249
In September 2020, households’ confidence has been stable Monthly consumer confidence survey - September 2020

In September 2020, households’ confidence in the economic situation has been stable: the synthetic index remains at 95, below its long-term average (100).

Informations rapides
No 249
Paru le :Paru le29/09/2020
Prochaine parution le : 26/04/2024 at 08:45 - April 2024

In September 2020, households’ confidence in the economic situation has been stable: the synthetic index remains at 95, below its long-term average (100).

Consumer confidence synthetic index

Consumer confidence synthetic index
Consumer confidence synthetic index
2000-01 119
2000-02 118
2000-03 119
2000-04 122
2000-05 122
2000-06 123
2000-07 124
2000-08 121
2000-09 118
2000-10 120
2000-11 119
2000-12 123
2001-01 126
2001-02 124
2001-03 122
2001-04 121
2001-05 116
2001-06 115
2001-07 114
2001-08 113
2001-09 111
2001-10 111
2001-11 112
2001-12 112
2002-01 112
2002-02 111
2002-03 111
2002-04 109
2002-05 113
2002-06 111
2002-07 109
2002-08 108
2002-09 106
2002-10 108
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 98
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 91
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 88
2008-04 88
2008-05 85
2008-06 81
2008-07 81
2008-08 82
2008-09 83
2008-10 81
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 91
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 85
2011-09 84
2011-10 86
2011-11 84
2011-12 83
2012-01 84
2012-02 85
2012-03 89
2012-04 90
2012-05 92
2012-06 91
2012-07 88
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 86
2013-11 84
2013-12 85
2014-01 86
2014-02 85
2014-03 88
2014-04 85
2014-05 85
2014-06 85
2014-07 86
2014-08 86
2014-09 86
2014-10 86
2014-11 87
2014-12 90
2015-01 89
2015-02 92
2015-03 94
2015-04 95
2015-05 93
2015-06 93
2015-07 93
2015-08 93
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
2016-12 100
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
2017-12 106
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 91
2018-12 88
2019-01 92
2019-02 95
2019-03 96
2019-04 97
2019-05 99
2019-06 101
2019-07 102
2019-08 103
2019-09 104
2019-10 104
2019-11 105
2019-12 102
2020-01 104
2020-02 104
2020-03 103
2020-04 95
2020-05 93
2020-06 96
2020-07 94
2020-08 95
2020-09 95

Consumer confidence synthetic index

  • Source: INSEE.

Personal situation

Future financial situation: slight increase

In September, households' opinion balance on their future financial situation has gained two points. It returns above its long-term average for the first time since February 2020. The balance related to their past financial situation has lost one point but remains above its long-term average.

The share of households considering it is a suitable time to make major purchases has increased slightly. The corresponding balance has gained one point compared to the previous month, but remains below its long-term average.

Suitable time to save: further increase

In September, the share of households considering it is a suitable time to save has increased for the fifth consecutive month. The corresponding balance has increased markedly, gaining nine points, and stands far above its long-term average.

Households’ opinion balance related to their expected saving capacity has increased a little. It has gained one point and remains well above its long-term average. Similarly, households' balance of opinion on their current saving capacity has increased by one point and remains well above its average.

Balances on personal financial situation and standard of living in France

Balances on personal financial situation and standard of living in France
Standard of living, future Standard of living, past Financial situation, future Financial situation, past
2005-01 -30 -56 -5 -21
2005-02 -29 -53 -4 -20
2005-03 -31 -54 -6 -22
2005-04 -32 -54 -5 -22
2005-05 -37 -59 -8 -24
2005-06 -33 -65 -6 -25
2005-07 -36 -65 -7 -25
2005-08 -37 -65 -8 -25
2005-09 -38 -66 -8 -26
2005-10 -40 -66 -10 -29
2005-11 -41 -65 -10 -28
2005-12 -35 -63 -7 -23
2006-01 -33 -60 -5 -22
2006-02 -31 -55 -4 -21
2006-03 -34 -57 -6 -19
2006-04 -38 -59 -6 -21
2006-05 -38 -61 -6 -23
2006-06 -38 -59 -7 -21
2006-07 -33 -55 -5 -19
2006-08 -33 -57 -4 -20
2006-09 -28 -54 -4 -20
2006-10 -24 -55 -3 -22
2006-11 -25 -56 -4 -22
2006-12 -26 -56 -5 -21
2007-01 -23 -57 -4 -22
2007-02 -19 -56 -4 -22
2007-03 -17 -56 -2 -20
2007-04 -15 -56 -2 -20
2007-05 3 -50 7 -16
2007-06 0 -44 3 -13
2007-07 -6 -44 -1 -15
2007-08 -16 -48 -4 -16
2007-09 -25 -51 -5 -17
2007-10 -23 -54 -6 -20
2007-11 -37 -61 -10 -23
2007-12 -30 -63 -10 -26
2008-01 -42 -67 -16 -29
2008-02 -40 -69 -14 -29
2008-03 -37 -71 -14 -33
2008-04 -41 -70 -16 -32
2008-05 -46 -75 -18 -34
2008-06 -55 -78 -24 -37
2008-07 -54 -80 -21 -38
2008-08 -51 -81 -20 -37
2008-09 -49 -79 -17 -35
2008-10 -57 -81 -21 -33
2008-11 -53 -78 -20 -33
2008-12 -56 -78 -20 -32
2009-01 -56 -75 -19 -31
2009-02 -57 -77 -20 -30
2009-03 -56 -77 -20 -30
2009-04 -50 -76 -17 -29
2009-05 -46 -76 -15 -30
2009-06 -43 -73 -12 -25
2009-07 -43 -75 -12 -26
2009-08 -40 -72 -12 -30
2009-09 -38 -71 -11 -27
2009-10 -38 -70 -12 -27
2009-11 -33 -67 -8 -25
2009-12 -34 -65 -10 -23
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 -69 -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 -32
2011-10 -51 -73 -21 -30
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 -72 -21 -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 -73 -20 -31
2014-11 -48 -68 -17 -33
2014-12 -43 -66 -16 -27
2015-01 -42 -66 -17 -29
2015-02 -37 -61 -15 -27
2015-03 -34 -59 -13 -27
2015-04 -34 -58 -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 -30 -54 -7 -25
2016-01 -27 -55 -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 -54 -10 -23
2016-07 -33 -53 -10 -29
2016-08 -34 -54 -10 -22
2016-09 -29 -54 -9 -23
2016-10 -29 -53 -7 -23
2016-11 -26 -48 -8 -24
2016-12 -22 -51 -7 -21
2017-01 -27 -47 -5 -22
2017-02 -23 -48 -6 -22
2017-03 -22 -48 -7 -20
2017-04 -21 -52 -9 -20
2017-05 -17 -45 -7 -20
2017-06 1 -40 -4 -15
2017-07 -11 -40 -11 -18
2017-08 -20 -40 -9 -18
2017-09 -21 -41 -11 -21
2017-10 -25 -39 -16 -21
2017-11 -19 -38 -10 -19
2017-12 -12 -30 -9 -16
2018-01 -19 -30 -12 -16
2018-02 -24 -36 -18 -23
2018-03 -23 -40 -12 -24
2018-04 -19 -37 -11 -26
2018-05 -27 -40 -14 -26
2018-06 -33 -47 -14 -27
2018-07 -33 -47 -11 -28
2018-08 -30 -46 -11 -30
2018-09 -37 -49 -18 -30
2018-10 -33 -52 -16 -29
2018-11 -45 -57 -18 -28
2018-12 -38 -65 -21 -32
2019-01 -31 -62 -14 -28
2019-02 -29 -56 -12 -25
2019-03 -26 -54 -10 -26
2019-04 -25 -55 -7 -25
2019-05 -24 -52 -5 -24
2019-06 -23 -44 -6 -23
2019-07 -25 -41 -5 -20
2019-08 -23 -42 -4 -18
2019-09 -24 -38 -3 -17
2019-10 -25 -37 -4 -17
2019-11 -23 -34 -2 -17
2019-12 -29 -38 -6 -19
2020-01 -29 -38 -3 -16
2020-02 -25 -37 -5 -14
2020-03 -34 -33 -7 -13
2020-04 -68 -33 -21 -7
2020-05 -70 -48 -19 -10
2020-06 -54 -57 -7 -12
2020-07 -53 -65 -8 -15
2020-08 -52 -64 -7 -15
2020-09 -47 -66 -5 -16

Balances on personal financial situation and standard of living in France

  • Source: INSEE

CONSUMER OPINION: synthetic index and opinion balances

Balance of responses, seasonally adjusted
CONSUMER OPINION: synthetic index and opinion balances (Balance of responses, seasonally adjusted )
Avg. (1) June 20 July 20 August 20 September 20
Synthetic index (2) 100 96 94 95 95
Financial sit., past 12 m. -21 -12 -15 -15 -16
Financial sit., next 12 m. -6 -7 -8 -7 -5
Current saving capacity 9 26 24 22 23
Expected saving capacity -9 7 9 5 6
Savings intentions, next 12 m. 17 15 23 25 34
Major purchases intentions, next 12 m. -14 -15 -16 -19 -18
Standard of living, past 12 m. -45 -57 -65 -64 -66
Standard of living, next 12 m. -25 -54 -53 -52 -47
Unemployment, next 12 m. 33 77 75 69 70
Consumer prices, past 12 m. -17 -31 -28 -18 -28
Consumer prices, next 12 m. -33 -14 -21 -26 -32
  • (1) Average value between January 1987 and December 2019
  • (2) The indicator is normalised in such a way that its average equals 100 and standard error equals 10 over the estimation period (1987–2019).
  • Source: INSEE, monthly consumer confidence survey

Economic situation in France

Future standard of living in France: moderate recovery

In September, households’ opinion balance about the future standard of living in France has increased by five points but remains well below its long-term average.

The share of households considering that the standard of living in France has improved during the past twelve months has decreased slightly. The corresponding balance has lost two points and remains sharply below its long-term average.

Unemployment: fears remain high

Households' fears about the unemployment trend have slightly increased in September and remain at a high level. The corresponding balance has gained one point and remains well above its long-term average.

Households' unemployment expectations

Balance, SA
Households' unemployment expectations (Balance, SA)
Households' unemployment expectations
2005-01 47
2005-02 37
2005-03 42
2005-04 45
2005-05 59
2005-06 36
2005-07 36
2005-08 29
2005-09 22
2005-10 16
2005-11 15
2005-12 14
2006-01 9
2006-02 8
2006-03 24
2006-04 17
2006-05 13
2006-06 15
2006-07 5
2006-08 6
2006-09 0
2006-10 5
2006-11 3
2006-12 21
2007-01 7
2007-02 6
2007-03 9
2007-04 3
2007-05 -14
2007-06 -10
2007-07 -15
2007-08 -5
2007-09 3
2007-10 2
2007-11 3
2007-12 -3
2008-01 1
2008-02 6
2008-03 7
2008-04 3
2008-05 15
2008-06 14
2008-07 27
2008-08 39
2008-09 45
2008-10 64
2008-11 69
2008-12 76
2009-01 75
2009-02 75
2009-03 74
2009-04 78
2009-05 81
2009-06 85
2009-07 75
2009-08 64
2009-09 67
2009-10 60
2009-11 55
2009-12 54
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 56
2014-02 55
2014-03 55
2014-04 57
2014-05 60
2014-06 67
2014-07 67
2014-08 62
2014-09 67
2014-10 52
2014-11 66
2014-12 66
2015-01 66
2015-02 58
2015-03 44
2015-04 61
2015-05 60
2015-06 61
2015-07 58
2015-08 50
2015-09 45
2015-10 47
2015-11 36
2015-12 45
2016-01 36
2016-02 45
2016-03 39
2016-04 52
2016-05 23
2016-06 25
2016-07 28
2016-08 33
2016-09 29
2016-10 30
2016-11 29
2016-12 19
2017-01 18
2017-02 21
2017-03 20
2017-04 16
2017-05 19
2017-06 5
2017-07 9
2017-08 -2
2017-09 16
2017-10 13
2017-11 6
2017-12 6
2018-01 1
2018-02 7
2018-03 4
2018-04 5
2018-05 1
2018-06 14
2018-07 13
2018-08 23
2018-09 22
2018-10 7
2018-11 30
2018-12 30
2019-01 33
2019-02 15
2019-03 20
2019-04 27
2019-05 10
2019-06 10
2019-07 10
2019-08 7
2019-09 2
2019-10 4
2019-11 3
2019-12 10
2020-01 10
2020-02 -3
2020-03 18
2020-04 62
2020-05 76
2020-06 77
2020-07 75
2020-08 69
2020-09 70

Households' unemployment expectations

  • Source: INSEE

Perceived inflation: sharp decrease

In September, households considering that prices were on the rise during the past twelve months have been less numerous than the previous month: the corresponding balance has lost ten points and moves away from its long-term average.

Households considering that prices will be on the rise during the next twelve months have been again less numerous than the previous month: the corresponding balance has lost six points. It is now very close to its long-term average.

Households' perception of prices

Balance, SA
Households' perception of prices (Balance, SA)
Past prices Future prices
2005-01 14 -44
2005-02 15 -41
2005-03 15 -40
2005-04 14 -40
2005-05 15 -40
2005-06 11 -40
2005-07 13 -35
2005-08 12 -32
2005-09 12 -31
2005-10 11 -32
2005-11 9 -35
2005-12 4 -35
2006-01 1 -37
2006-02 4 -36
2006-03 -3 -35
2006-04 7 -32
2006-05 18 -29
2006-06 11 -32
2006-07 7 -34
2006-08 10 -37
2006-09 14 -40
2006-10 12 -39
2006-11 13 -38
2006-12 18 -35
2007-01 17 -38
2007-02 11 -39
2007-03 6 -36
2007-04 5 -34
2007-05 -1 -43
2007-06 -3 -31
2007-07 6 -27
2007-08 13 -21
2007-09 20 -15
2007-10 27 -20
2007-11 45 -8
2007-12 54 -25
2008-01 51 -15
2008-02 51 -30
2008-03 67 -45
2008-04 63 -38
2008-05 71 -39
2008-06 70 -31
2008-07 67 -30
2008-08 60 -42
2008-09 50 -53
2008-10 43 -37
2008-11 29 -47
2008-12 19 -50
2009-01 6 -51
2009-02 7 -49
2009-03 -1 -54
2009-04 -6 -56
2009-05 -11 -57
2009-06 -16 -56
2009-07 -19 -52
2009-08 -18 -53
2009-09 -25 -48
2009-10 -16 -45
2009-11 -14 -48
2009-12 -14 -44
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 -17
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 -24
2013-10 -8 -21
2013-11 -8 -23
2013-12 -8 -17
2014-01 -15 -16
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 -36
2014-09 -40 -33
2014-10 -38 -28
2014-11 -38 -36
2014-12 -46 -43
2015-01 -50 -46
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 -53 -41
2015-10 -50 -41
2015-11 -50 -41
2015-12 -51 -38
2016-01 -52 -42
2016-02 -56 -39
2016-03 -57 -37
2016-04 -57 -37
2016-05 -53 -39
2016-06 -53 -36
2016-07 -51 -37
2016-08 -51 -35
2016-09 -46 -34
2016-10 -52 -38
2016-11 -52 -39
2016-12 -48 -28
2017-01 -44 -24
2017-02 -46 -31
2017-03 -46 -26
2017-04 -50 -28
2017-05 -56 -35
2017-06 -56 -41
2017-07 -54 -31
2017-08 -54 -32
2017-09 -55 -29
2017-10 -50 -23
2017-11 -45 -28
2017-12 -46 -32
2018-01 -41 -16
2018-02 -34 -20
2018-03 -37 -24
2018-04 -39 -27
2018-05 -31 -20
2018-06 -27 -21
2018-07 -26 -21
2018-08 -25 -21
2018-09 -16 -14
2018-10 -15 -14
2018-11 -10 -12
2018-12 -9 -21
2019-01 -32 -40
2019-02 -27 -19
2019-03 -17 -23
2019-04 -18 -23
2019-05 -21 -24
2019-06 -20 -24
2019-07 -27 -23
2019-08 -27 -21
2019-09 -28 -22
2019-10 -27 -21
2019-11 -32 -23
2019-12 -34 -21
2020-01 -34 -24
2020-02 -34 -26
2020-03 -38 -14
2020-04 -50 12
2020-05 -30 3
2020-06 -31 -14
2020-07 -28 -21
2020-08 -18 -26
2020-09 -28 -32

Households' perception of prices

  • Source: INSEE

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 August 26 and September 17 2020. 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.

Next publication: 28 October 2020 at 8:45 am

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