Car production plant
Media playback is unsupported on your device
Video

Siemens boss: Good signs for UK manufacturing

Politicians including Ed Balls and Michael Heseltine will meet with more than a thousand business leaders today to try and reboot the economy.

Manufacturing - which makes up 10% of the economy - unexpectedly shrank and new orders dwindled in February, prompting concerns that manufacturing will be a drag on the economy in the first quarter rather than a driver.

Terry Scuoler, chief executive of the Engineering Employers Federation, told the Today programme: "There clearly are challenges here to manufacturing and I suppose the biggest factor is weak global demand.

"But emerging markets are growing and British companies are responding to that."

Roland Aurich, chief executive of the European division of Siemens, said: "British manufacturing is really catching up. I do see a lot of good signs.

"We are in a position where doing business in Britain is a good place to be."

First broadcast on BBC Radio 4's Today programme on Tuesday 5 March 2013.

  • 05 Mar 2013
  • From the section UK
Go to next video: London has 'sucked power' from cities