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 Laspeyres quantity index uses the prices of the initial period, while the Paasche quantity index uses the prices of the end period.
The quantity index was further decomposed into the health status index and the adjusted quantity index (adjusted for health status).
The Medicare adjusted price index and adjusted quantity index (adjusted for health status) were calculated using a similar methodology as with the BCBSTX data.
For each nation, we prepared Fisher chain quantity index measures of output growth using industry- or expenditure-type estimates.
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.
Currently, the quantity index employs a chain weighting method.
The last equation above expresses the growth rate of the continuous-time Divisia quantity index.
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.
This quantity index requires some care in interpretation.
The quantity index for computers can be used to accurately measure