CURRENT PRODUCTION: The production of final goods and services taking place during a given time period. The emphasis here is on time period, especially the CURRENT time period. Gross domestic product is the macroeconomy's prime measure of current production. Current production is best contrasted with transactions for past production and future production, both of which are excluded from gross domestic product. See also | production | gross domestic product | final good | raw materials | natural resources | business sector | change in business inventories | business cycle |
