Is the form $P_{1}(P_{1} + P_{2})^{-1}$ a contraction elementwisely where both $P_{1}$ and $P_{2}$ are positive definite

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In $\mathbb{R}^{n}$, assume $P_{1}$ and $P_{2}$ are both positive definite. Let $A = P_{1}(P_{1} + P_{2})^{-1}$.

Can we conclude the following,

Given every vector $x$, we have \begin{equation*} |(Ax)_{i}| \leq |x_{i}|, \quad i = 1,\ldots,n \end{equation*} where $(Ax)_{i}$ denote the $i$th component of $Ax$.

Is the statement above true? If not, what can we add to make it true.

P.S., This problem may be solved if we can check the infinity norm of $A$ is less than 1, but I can only say all the eigenvalues of $A$ are between $0$ and $1$.

Any suggestions? Thank you in advance.