WASHINGTON — Real gross domestic product — the output of goods and services produced by labor and property located in the U.S. — increased at an annual rate of 1.5% in the second quarter of 2012, according to the advance estimate released by the Commerce Department Friday.

The 1.5% advance estimate of GDP growth is less than the 2.0% growth in the first quarter, but slightly outperformed the 1.4% median increase projected by economists polled by Thomson Reuters. The first quarter estimate was revised upward from the 1.9% increase reported in the final estimate the previous month.

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