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 1.7% in the second quarter of 2012, according to the preliminary estimate released by the Commerce Department Wednesday.

The 1.7% advance estimate of GDP growth is greater than the 1.5% growth originally reported during the advance estimate last month, and matched the median increase projected by economists polled by Thomson Reuters.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.