Source : Webster's Revised Unabridged Dictionary (1913)

Productivity \Pro`duc*tiv"i*ty\, n.
   The quality or state of being productive; productiveness.
   --Emerson.

         Not indeed as the product, but as the producing power,
         the productivity.                        --Coleridge.

Source : WordNet®

productivity
     n 1: the quality of being productive or having the power to
          produce [syn: {productiveness}] [ant: {unproductiveness}]
     2: (economics) the ratio of the quantity and quality of units
        produced to the labor per unit of time