The velocity of money (also called velocity of circulation of money and, much earlier, currency) is the frequency at which one unit of currency is used to purchase domestically-produced goods and services within a given time period.[3] In other words, it is the number of times one dollar is spent to buy goods and services per unit of time.[3] If the velocity of money is increasing, then more transactions are occurring between individuals in an economy.[3] Although once thought to be constant,[citation needed] it is now understood that the velocity of money changes over time and is influenced by a...
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