Nope! Looking back, I kind of wish it was though. I had this awesome friend who I spent an entire summer hanging out with. We both hung out with each other almost exclusively, but there wasn't anything official. She dropped a lot of hints, but I was too nervous to ask her out. About 2 months after summer ended (when I finally got the nerve up to ask her out) she was dating someone else. It all worked out though, because she turned out to be different than the person I thought she was.
Depends on the context and vibe of the hangout. If you have phases to the hangout. Like starting at coldstone, over icecream. Then go for a walk, just talking about life. Then go to the house and watch a movie together. That's all date actions, but if there was no romantic conversation or emotion behind any of it. Then it's really just hanging out like a friend date. But if there was a lot of emotional tension and more sexually charged conversation, it could be more like an informal date.
It's kind of like the difference between being just friends and dating. One of them you kiss and fuck, with a tendency of emotional tension.