This is the first time in contractionary
territory since August 2016, and is the lowest since January 2016.
Al Amri added: "The Omani economy witnessed robust nominal growth for the second year in a row during 2018, after coming out of a contractionary
phase," citing that nominal GDP had grown by 12 percent in 2018, with petroleum activities expanding by 37.1 percent and non-petroleum activities by 2.9 percent.
Powell has been increasing rates as a way to curb inflation during a strong economic period, which economists call (https://xplaind.com/525232/contractionary-monetary-policy) contractionary
"The AIB manufacturing PMI index remained below 50 in contractionary
territory for the second consecutive month in July.
"Egypt's non-oil private sector remained under pressure in June, although the pace of decline slowed from May," MENA Economist at Emirates NBD Daniel Richards commented, noting that while still firmly in sub-50.0 contractionary
territory, the average of 49.4 over Q2 2019 was the strongest since Q3 last year, and was markedly better than the long-run series average of 48.4.
Instead, it is urging a "contractionary
Budget," where taxes should actually be increased in some areas, such as more carbon tax or higher site taxes to tackle land hoarding.
ISLAMABAD -- Amid tight fiscal and contractionary
monetary policies, the government is targeting slight improvements in savings and investments, coupled with better performance by agriculture and industry to achieve an economic growth rate of four per cent during the next fiscal year, compared to a dismal growth of 3.3pc during the current fiscal year.
The President FPCCI termed the contractionary
monetary policy as an anti-investment policy which has declined the economic activities in the first ten month of the current fiscal year due to declining of large scale manufacturing and service sector.
He said the government was cognisant of this challenge and was following prudent expenditure management and contractionary
monetary policy to anchor expected rise in inflation.
The manufacturing Purchasing Managers' Index (PMI) figure bounced back to expansion mode or over 50 in March, after three months below 50 or what is generally considered contractionary
Posturing towards expansion when both monetary and fiscal policies are text-book contractionary
, with a Fund program just around the corner, is not turning out to be the smartest idea after all.
Nevertheless, while contractionary
, 2018 was on average (49.5) the strongest year in the PMI since 2014, and we anticipate a continued strengthening in the private sector this year.