Siemens CFO says no industry recovery in sight yet
FRANKFURT (Reuters) - Siemens finance chief Joe Kaeser said while he expects the industry business to reach its bottom in the current quarter it was uncertain when it would start recovering.
"We assume that we will see the bottom in the third quarter, with revenue levels in industry coming in flattish from the second quarter. But the jury is out on whether there will be a rebound in the fourth quarter," Kaeser told analysts after the company published quarterly financial results.
"We do not see a coherent picture that end-markets are picking up," he added.
(Reporting by Maria Sheahan)