It does depend on how you define productivity. But the way it's commonly used is "I'm going faster, personally, with these tools."
The thing people I think have a hard time seeing is that "I go faster" does not mean "more features get finished".
It's a scale issue, and one scale is better than the other. People only pay for finished features, they do not pay for how much code you emit.
economists define productivity as gdp per hour worked. Like a lot of other economic measurements, its mostly a bogus number people use as an argument on why their politics are better than someone elses politics. You can have an efficient business located in a poor country making the same product and same quality as that same business in a rich country, the rich country will be more "productive" because local cost of goods is higher there (i.e. a restaurant in NYC is more "productive" than a restaurant in bangladesh).