Economics is an inexact science, never more so than today with uncertainty being the characteristic of our age. Uncertainty about the euro, banks, oil, the dollar, a double dip recession, etc, etc. - anything you can think of. It’s all quite perplexing and unpredictable. Even hindsight isn’t what it used to be .- constant revisions and reinterpretations of the the data gives a different picture each time.
However, at a more pedestrian level, metrology companies, such as Renishaw and Hexagon Metrology, are reporting record profits, surging growth and looking forward with confidence.
This growth and profitability is based upon a consistent strategy of investment in innovation and the development of new markets for their technology, such as those in medical, healthcare and new energy sectors. Also important is the wide geographical spread of markets, i.e. Europe, Asia and USA balancing upturns and downturns.
With healthy profits, comes reinvestment in their businesses for future growth. A good example is Renishaw with their announcement of plans for manufacturing expansion - see a news item on this page. With quite a few exhibitions coming up this quarter, the industry will be looking out to see if this optimism is set to continue.
Brendan Coyne - Editor/Publisher