Volume Index

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Volume Index

An index that measures the aggregate production of a given set of goods and services over a period of time. For example, a volume index may measure changes in the amount of refined oil, corn and automobiles. A volume index may be an indicator of an economy's direction. That is, if production is falling, it may portend an economic downturn.
References in periodicals archive ?
Labour productivity is a ratio whose numerator is an output volume measure that either has been constructed by deflating nominal output by a price index or, equivalently, by multiplying base period nominal output by a quantity index.
The quantity index was further decomposed into the health status index and the adjusted quantity index (adjusted for health status).
And what is a 90% confidence interval for the percent difference in the quantity index between the two regions?
That is, the components of the aggregate quantity index are weighted using their asset values.
The output price index used here is homogeneous of degree one in prices while the output quantity index is not necessarily.
We begin our discussion of index-number theory with the result that the Divisia quantity index (first suggested as an index number by Divisia, 1925) is exact for the monetary quantity aggregate, [M.
Again, the extent to which the new input varieties affect the quantity index depends on their share in expenditure, along with the elasticity of substitution.
A quantity index must be employed to evaluate changes in real GDP.
Or the circularity test requires that indices be transitive over any three periods: If the quantity index rises 5 percent between periods r and t and 2 percent between periods t and w, then the change should be 7 percent when the quantity indices for r and w are compared directly.
the chain-type quantity index and the 2009 current-dollar value of the
This quantity index requires some care in interpretation.
Chained (2009) dollar series are calculated as the product of the chain-type quantity index and the 2009 current-dollar value of the corresponding series, divided by 100.