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City: False dawn?

MORE tentative signs of economic recovery, despite the sickening and ever-upward march in unemployment. November showed a quite considerable pick-up in new car registrations. For the first time since Britain left the ERM, even the poor old pound made some headway against the mark - a trend immediately seized on by Norman Lamont as showing greater international confidence in Britain's future. But don't get too bullish yet. Mr Lamont has proved himself a pretty reliable contrary indicator: he's usually wrong on matters economic. At the coal face, few British businessmen report anything of any real significance.