I'd say that based on the usage of that word, it depends. Parents would consider children doing their homework relatively productive even though they're not really producing anything.

Reading increases my ability to concentrate for long periods of time (yes, really), gives me topics for discussion, etc., which apply to many areas of my life, including those related to actual production. Am I being unproductive when I, for instance, learn Scala without the intent of ever releasing the practice code that I've made?