MMC Warns Clients of Current Economic Conditions| MENAFN.COM

Sunday, 23 January 2022 06:32 GMT

MMC Warns Clients of Current Economic Conditions


(MENAFN- EIN Presswire)

In March of this year, Director of Sales & Marketing Mona Helmy has warned its clients of what the company believed to be a“Super Cycle” of escalating prices;

CAIRO, EGYPT, October 24, 2021 /EINPresswire.com / -- In a memo sent to clients this week, Misr Measurement & Control (MMC ) weighed in on the current economic outlook.

Director of Sales & Marketing Mona Helmy stated that the company continues to see stronger signs of the problem persisting on a global scale.

Helmy cited 2 particular events:

1- The decline in China's gross domestic product (GDP) in the third quarter of this year to 4.9% from 7.9% in same period in 2020

2- Federal Reserve Chairman Jerome Powell recent announcement that inflation pressures“are likely to last longer than previously expected,” and that they could run“well into next year”

Helmy asserted that overall global economic picture causes concerns about stagflation, which occurs when an economy is hit by slow growth, high inflation and unemployment.

She said that MMC expects inflationary pressures to persist in the near term, impacting gross margins in most of the businesses as cost of raw materials continue to escalate and as global supply chains continue to struggle.

Helmy finally urged clients to continue to review current supply contracts to secure production needs affirming MMC's willingness to engage in longterm supply contracts despite current market volatility.

MMC is an Egyptian joint stock company founded, in 1990 and is currently the regional leader in process control for molten metal industry supplying measurement probes, refractories, ferroalloys and a host of other elements through out Middle East & Africa.

Salma Hamdy
MMC

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