PARIS / RankWire.AI / – In the second quarter of 2026, economic activity across OECD nations experienced a modest uptick, with gross domestic product increasing by 0.5% compared to the previous quarter. This follows a 0.4% growth rate reported in the first quarter, based on initial estimates released on August 24. The Organisation for Economic Co-operation and Development noted that 27 out of 30 countries with available data expanded during this period. The remaining three economies showed no change in GDP.
Overall, the latest data points to widespread growth across the OECD region, though the pace varied significantly among members. Ireland achieved the quickest quarter-on-quarter rise at 3.9%, followed by Israel at 3.6%. Meanwhile, Austria, Belgium, and Chile saw their output remain unchanged during the quarter. The region’s annual performance was also stronger, with OECD GDP being 2.3% higher than a year earlier. This is an improvement compared to the 1.7% annual growth seen in the first quarter.
Growth among the G7 economies was more subdued than the broader OECD outcome. The G7’s combined GDP growth slowed to 0.3% in the second quarter, down from 0.4% in the first. Germany and Italy each grew by 0.2%, while Japan’s expansion was 0.3%. The United Kingdom and the United States both increased by 0.4%. Canada saw a notable acceleration to 0.8% after no growth in the previous quarter, and France returned to a 0.2% growth following a 0.1% contraction.
G7 Growth Decelerates as Canada Boosts Performance
The slowdown across five G7 economies reflected weaker activity in key sectors. In Japan, private consumption was flat, inventories fell, and investment declined. The United Kingdom experienced weaker private spending and reduced government consumption. In the United States, slower export growth, inventory reductions, and lower government spending dampened quarterly expansion. Despite this, the wider OECD region experienced a slightly faster overall growth rate.
The starkest contrast was seen in Canada and France. Canada’s economy went from zero growth in Q1 to 0.8% in Q2. France, which had contracted 0.1% in the first quarter, expanded by 0.2%. Other countries with stagnant GDP were Austria, Belgium, and Chile. Meanwhile, Ireland and Israel posted much stronger quarterly gains than most other OECD nations.
OECD’s Annual Growth Rate Rises to 2.3%
On a yearly basis, the second-quarter figures indicate a broader acceleration across OECD countries. GDP was 2.3% higher than in the same period of 2025, compared to 1.7% growth in the first quarter. Among the G7, the United States recorded the strongest annual increase at 2.1%. Japan had the smallest at 0.5%. The yearly comparison provides an alternative measure from the quarter-on-quarter change in economic output.
The OECD described these second-quarter figures as provisional. The report covered 30 member countries for which second-quarter GDP data was available at the time of release. The organization plans to publish its next quarterly GDP growth report on November 19, 2026. The August figures remain the latest comprehensive snapshot of second-quarter growth across the member economies, showing faster overall expansion but slower growth among the G7 countries.
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