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DEFINITION"><div class="nextDef fltr">NEXT DEFINITION<i class="next"></i></div></a><div class="clr"></div><div id="prevDefLinks"><a href="/definition/production-possibility-frontier" title="Meaning of Production Possibility Frontier in Economy">Production Possibility Frontier</a><br><div class="synopsis">Production possibility frontier is the graph which indicates the various production possibilities of two commodities when resources are fixed.</div><a class="moreRead" href="/definition/production-possibility-frontier" title="Read more about Production Possibility Frontier in Economy">Read More</a></div></li><div class="clr"></div></ul></div><div class="clr"></div></div><h1 class="definitionTitle">What is 'Production Gap'</h1><br><div class="section1"><div class="Normal"><p> <em><strong>Definition: </strong></em>The difference between actual production and estimated production in industry is known as production gap. It is generally calculated as the percentage deviation from estimated production. The production gap is a major economic indicator in GDP analysis.<br> <br> <em><strong>Description: </strong></em>Production gap in GDP, coupled with data on unemployment and inflation, can explain the reasons for the major problems in any economy. An industry, or a country, can thus formulate strategies to reduce the gap and try to achieve the estimated production.</p> <p> <meta content="cms.next" name="cmsei"> </p> </div></div><div class="clr"></div><div id="widgetSEO" class="widgetSEO"><div class="readMoreTopics seoWidget seoWidget_con clearfix"><div class="prel"><h2 class="head">Read More News on</h2><div class="nextprev-btn slider_embd"><div data-ga-onclick="Previous | href" class="prev-btn arw_blk disable flt"><span class="alft"></span></div><div class="ts-dots flt"><ul></ul></div><div data-ga-onclick="Next | href" class="next-btn arw_blk ryt flt"><span class="aryt"></span></div></div></div><div id="slides_SEO" class="overh slides clearfix"><ul><li><a href="/topic/production-gap" title="PRODUCTION GAP">PRODUCTION GAP</a><a href="/topic/inflation" title="INFLATION">INFLATION</a><a href="/topic/economy" title="ECONOMY">ECONOMY</a><a href="/topic/gdp" title="GDP">GDP</a></li><li><a href="/topic/unemployment" title="UNEMPLOYMENT">UNEMPLOYMENT</a><a href="/topic/indicator" title="INDICATOR">INDICATOR</a></li></ul></div></div></div><div class="prevNextDefNames"><ul><li class="flt"><a href="/definition/producer-surplus" title="PREV DEFINITION"><div class="prevDef flt"><i class="prev"></i>PREV DEFINITION</div></a><div class="clr"></div><div id="prevDefLinks"><a href="/definition/producer-surplus" title="Meaning of Producer Surplus in Economy">Producer Surplus</a><br><div class="synopsis">Producer surplus is defined as the difference between the amount the producer is willing to supply goods for and the actual amount received by him when he makes the trade.</div><a class="moreRead" href="/definition/producer-surplus" title="Read more about Producer Surplus in Economy">Read More</a></div></li><li class="flt"><a href="/definition/production-possibility-frontier" title="NEXT DEFINITION"><div class="nextDef fltr">NEXT DEFINITION<i class="next"></i></div></a><div class="clr"></div><div id="prevDefLinks"><a href="/definition/production-possibility-frontier" title="Meaning of Production Possibility Frontier in Economy">Production Possibility Frontier</a><br><div class="synopsis">Production possibility frontier is the graph which indicates the various production possibilities of two commodities when resources are fixed.</div><a class="moreRead" href="/definition/production-possibility-frontier" title="Read more about Production Possibility Frontier in Economy">Read More</a></div></li><div class="clr"></div></ul></div><div class="related_definition"><div class="related_defHeader"><div class="head flt">Related Definitions</div><div class="FAQ_pagination fltr"><div class="flt" id="pre"><a href="javascript:void(0);"><i class="prev"></i></a></div><div class="fltr" id="post"><a href="javascript:void(0);"><i class="next"></i></a></div><div class="clr"></div></div><div class="clr"></div></div><ul><li><a class="bdbottom" title="Asset Turnover Ratio" href="/definition/asset-turnover-ratio">Asset Turnover Ratio<div class="synopsis"><p>Asset turnover ratio is an indicator of the efficiency with which a company is deploying its assets to produce the revenue. 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