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Gambica members sense confidence returning

01 October, 2003

Gambica members sense confidence returning

British controls and instrumentation companies are starting to report an increase in business confidence, according to a trends survey conducted by their trade body, Gambica. "We are just beginning to see a few positive indicators, and we have to decide whether these are real, or just another false start," Gambica`s out-going president, Norman Smith, told the organisation`s annual luncheon in London, in October.

But Smith also reported that Oxford Economic Forecasting had recently told Gambica that industrial investment in the UK had slumped by 20% over the past two years, from an already low level. OEF is now forecasting that investment in manufacturing will improve by about 3% next year - "a very, very fragile state of affairs," according to Smith.

Smith has been succeeded as Gambica president by Harry Tee, chief executive of the Roxboro Group, which he founded in 1990.

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