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An earlier survey of bond market strategists found a majority no longer believed an inverted curve to be a reliable recession predictor. [179] [180] [181] July 2024 data showed that the inflation rate had dropped to 2.9%, the lowest since March 2021, with used car prices returning to normal following the 2020–2023 global chip shortage. [182]
Jordan's real GDP fell by 1.6% in 2020, with a dramatic reduction in tourism—a crucial economic sector—being one of the primary transmission routes of the crisis. [ 25 ] [ 92 ] Tourism provides for about 40% of Jordan's export receipts and 10–15% of GDP, with 3.8 million international tourists every year.
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