Chain Volume Measure (CVM) is a economic statistic. To suggest a relevant news story for the main page, refer to the criteria then add your suggestion at the candidates page. ... Buyers bargain for good prices while sellers put forth their best front in Chichicastenango Market, Guatemala. ...

In publications of statistical data, for example Gross Domestic Product (GDP), there may be a necessity to compare data at different time periods. The choice of a year on which to base such comparisons is important. Fixed base aggregations compare data in one period with that of another, for example, data for GDP growth for 2006 might be compared with a base year of 2001. Using this method presents problems because of the way in which the information on which the base year is centred often changes. Video cassette recorders might have been a feature of data in 2000 but not in 2006, for example, and so a fixed based aggregate might not be as accurate as a means of comparison. It is for this reason that chained volume measures (CVM) have been introduced by the Office for National Statistics (ONS) in the United Kingdom. The use of CVM allows the base year to be updated more regularly and thus the statistics will be more accurate. Using this method the base year is revised every year rather than every five years that was the case. Calculations are carried out in previous years prices and aggregated to give chain volume measures. The ONS has replaced the term 'constant prices' in its terminology with CVM to describe components of GDP. A graph of a bell curve in a normal distribution showing statistics used in educational assessment, comparing various grading methods. ... A regions gross domestic product, or GDP, is one of several measures of the size of its economy. ... The Office for National Statistics (ONS) is the government executive agency charged with the collection and publication of statistics related to the economy, population and society of the United Kingdom at national and local levels. ...