Yes, but not on its own, that I am aware. High accuracy GPS is is based on a combination of GPS satellite data itself with real time or post-processed positiona

Yes, but not on its own, that I am aware. High accuracy GPS is is based on a combination of GPS satellite data itself with real time or post-processed positional correction using references stations which themselves are placed in a known surveyed location. In the US, 60 cm accuracy is often possible with nothing more than WAAS corrections. 10 or even 1 cm accuracy is often possible in real time with access to an RTK network.