National Income and Product Accounts Gross Domestic Product: Second Quarter 2011 (Advance Estimate) Revised Estimates: 2003 through First Quarter 2011 Real gross domestic product — the output of goods and services produced by labor and property located in the United States — increased at an annual rate of 1.3 percent in the second quarter of 2011, (that is, from the first quarter to the second quarter), ccording to the “advance” estimate released by the ureau of Economic Analysis. In the first quarter, real GDP increased 0.4 percent.”