Business in the U.S. has been growing "quite well," but economic uncertainty caused by Washington limits corporate spending and hiring, Siemens U.S. president and CEO told CNBC's "Squawk on the Street."
Eric Spiegel estimates that the U.S. business, with more than 60,000 employees and 140 plants, represents 25 percent of the German company's sales. He put U.S. growth at 9 percent over the past two years, adding that Siemens has invested $25 billion here over the last decade, including acquisitions.
Although Siemens had created "a couple thousand" U.S. jobs in recent years, Spiegel said, uncertainty has him in a "wait and see" mentality about hiring.
"We know a lot of customers who have billions of dollars of capital projects kind of sitting on the side waiting to see what happens," he said. "We're hopeful. People are making long-term investments, they want to see that the economy is settled and we don't have so much uncertainty about the fiscal situation."