Real gross domestic product (GDP) increased at an annual rate of 1.6 percent in the first quarter of 2026 (January, February, and March), according to the second estimate released today by the U.S. Bureau of Economic Analysis. In the fourth quarter of 2025, real GDP increased 0.5 percent. The contributors to the increase in real GDP in the first quarter were exports, investment, consumer spending, and government spending. Imports, which are a subtraction in the calculation of GDP, increased. Real GDP was revised down 0.4 percentage point from the advance estimate, primarily reflecting downward revisions to investment and consumer spending. For more information, refer to the " Technical Notes " below. Compared to the fourth quarter of 2025, the acceleration in real GDP in the first quarter of 2026 reflected upturns in government spending and exports and an acceleration in investment that were partly offset by a deceleration in consumer spending. Imports turned up.…