Index number are not called economic barometer. Some, but by no means all, economic variables are represented in index form to simplify comparisons over time. Since these may be considered as giving a picture of the economic outlook, they are sometimes called economic barometers.
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uses of index
Coordinate index ? Sure ! It's easy ... You just have to coordinate your index number !
index is the same as power The index of a number say how many times you have to use the number in a multiplictaion. e.g; 2 10 = 10*10=100
The index number in economic terms refers to an economic data figure reflecting price or quantity compared with a standard or base value. The best known index number is the consumer price index, which measures changes in retail prices paid by consumers.
Postal Index Number