Gross Domestic Product and Gross National Product
The chart below shows the velocity of money for the United States. The velocity of money is the frequency at which one unit of currency is used to purchase domestically produced goods and services within a given time period. In other words, it is the number of times one dollar is spent to buy goods and services per unit of time. If the velocity of money is increasing, then more transactions are occurring between individuals in an economy.
When the velocity of money is trending downwards, as is currently the case, it suggests deflation.