I enchanted my armour with "Fortify smithing" yet these armors do not improve smithing at all.

Fortify smithing = Weapons & armor can be improved x% better

My equips grant 48% better smithing, yet there is no improvement in numbers. Is this the same with anyone else?

Don't know, but they should actually add arrow smithing, I know a mod is out for it already, but that's only PC, it's kinda (ga)me.

Are you lokoing at the numbers for making an item or upgrading an item?

IIRC making an item has base stats (damage and armor rating based off their respective skill level) and the smithing bonuses work for upgrading.

I have ebony weapons at the moment which are smithed (not improving these).

I found a new set, attempting to improve my newly found ebony weapons (attempting to improve these).

For improving, you have to reach certain milestones to see any difference. For example, from skill level 1-30 you can upgrade items to Fine, from skill 31-64 you can upgrade to Superior, and so on. If you have the correct perk, then this range is a lot narrow.

So, if you're getting +48% to smithing, yes, it is possible that you don't see any improvement on crafting. You'll have to increase your skill a little bit to reach the next milestone.

Is this really weird? Yes. But that's how it works.

So, the rate at which it can be improved is improved correct? Not the flat number? In other words, the status of the smithing... be it fine, superior, exquisite?

Yes. You'll jump from Fine to Superior at some milestone, but there's no value between those two.

http://www.uesp.net/wiki/Skyrim:Smithing

Look at that table.

With just 12% on my warrior I see a 7 damage difference at smithing level 80 on my ebony axe compared to having no bonus.

Note: They both read legendary, so the "quality" is not a set bonus if that helps.

I think you can get your smithing level, add 48%, and see how close it gets to the next milestone. That way you can see when you'll see any improvement.

Weird. When I was smithing it, the number didn't go up... But when I looked at it in my inventory it went up ALOT. Fine with me

That is odd. What level smithing are you?