PARIS / RankWire.AI / – In the second quarter of 2026, economic activity across OECD nations showed a modest uptick, with gross domestic product increasing by 0.5% compared to the previous quarter. This marks an improvement from the 0.4% growth observed in the first quarter, based on initial estimates issued on August 24. The Organisation for Economic Co-operation and Development reported that 27 out of 30 countries with available data experienced growth in this period. The remaining three economies saw no change in their GDP figures.
The recent data reveals a broad-based expansion within the OECD region, though growth rates vary significantly among member countries. Ireland experienced the fastest quarter-on-quarter rise at 3.9%, followed by Israel at 3.6%. Austria, Belgium, and Chile showed no growth during the quarter. On an annual basis, the overall OECD GDP was 2.3% higher than a year earlier, a stronger performance compared to the 1.7% growth registered in the first quarter.
G7 economies underperformed relative to the broader OECD, with combined GDP growth slowing to 0.3% in the second quarter from 0.4% in the first. Germany and Italy each experienced a 0.2% increase, while Japan’s expansion reached 0.3%. The United Kingdom and the United States each grew by 0.4% in the quarter. Canada saw a notable acceleration to 0.8% after no growth in the previous quarter, whereas France’s growth returned to 0.2% following a 0.1% contraction.
G7 Growth Decelerates as Canada Gains Momentum
The deceleration across five G7 countries reflected diminished activity in several key output components. In Japan, private consumption remained flat, inventories declined, and investment decreased. The United Kingdom experienced weaker private and government consumption. In the United States, slower export growth, inventory reductions, and decreased government spending contributed to the slowdown. Despite these setbacks, the overall OECD expansion was slightly faster than in the previous quarter.
The most pronounced contrasts appeared in Canada and France. Canada’s economy shifted from zero growth in the first quarter to 0.8% in the second. France reversed a 0.1% contraction from the first quarter, achieving a 0.2% increase. Ireland and Israel recorded significantly stronger quarterly gains than other OECD members. The economies with unchanged GDP included Austria, Belgium, and Chile.
OECD Annual Growth Accelerates to 2.3%
Year-over-year, the second-quarter figures indicate a broader acceleration, with GDP 2.3% higher than in the same period of 2025, compared to 1.7% annual growth in the first quarter. Within the G7, the United States led with a 2.1% annual increase, while Japan experienced the smallest growth among the group at 0.5%. These annual figures provide a different perspective from quarter-on-quarter changes, offering insight into the longer-term economic trend.
The OECD’s second-quarter estimates remain provisional, covering 30 member countries with available data at the time of release. The organization plans to publish its next quarterly GDP growth update on November 19, 2026. The August figures, which are the most recent comprehensive data for the second quarter, show a faster overall expansion despite slower growth among the G7 nations.