Usually means: Measure of relative size, output.
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We found 5 dictionaries that define the word volume index:

General (2 matching dictionaries)
  1. volume index: Dictionary.com
  2. Volume index: Wikipedia, the Free Encyclopedia

Medicine (3 matching dictionaries)
  1. online medical dictionary (No longer online)
  2. volume index, Volume index: Medical dictionary

Definitions from Wikipedia (Volume index)

noun:  A volume index or quantity index is a numerical time series measure designed to help compare how the production of some class of goods and/or services, taken as a whole, differs between time periods or geographical locations.

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