Peter Loescher, Siemens president and CEO, discussed the company’s 1Q 2013 financials in a conference call this week. Said Loescher, “In a nutshell, our start into the new fiscal year and towards our Siemens 2014 target was solid in a still difficult macroeconomic environment despite the clear stabilization in the financial markets in Eurozone.
“The recession in a number of countries continues and leads to an overall subdued investment climate. The U.S. economy has stabilized, yet the ongoing discussions about rising the debt ceiling and pending decisions about budget cuts results in a certain reluctance to invest.”