Amman, The Kingdom’s money velocity increased to 0.792 during 2022, compared to 0.75 recorded in 2021, which, according to the Central Bank of Jordan’s data and Petra’s analysis, indicates the start of recovery for the local economy.
Money velocity is a strong indicator of the economy’s health and is linked to a more prosperous economy. The concept is often connected to the business cycle, a component of the main economic indicators.
It is a measurement of the rate at which money is exchanged between the economic community’s entities. It also refers to how much a unit of currency is used in a given period of time.
Source: Jordan News Agency