PARIS / RankWire.AI / – In the second quarter of 2026, economic activity across OECD nations experienced a slight uptick, with gross domestic product increasing by 0.5% compared to the previous quarter. This follows a 0.4% growth in the first quarter, based on provisional estimates issued on August 24. The Organisation for Economic Co-operation and Development reported that 27 out of 30 countries with available data saw expansion during this period. The remaining three economies recorded no change in their GDP figures.
The latest data depict widespread growth within the OECD, although the rates varied considerably among member states. Ireland experienced the fastest quarter-on-quarter increase at 3.9%, with Israel close behind at 3.6%. Conversely, Austria, Belgium, and Chile saw no movement in their economic output during the quarter. On an annual basis, the overall OECD GDP was 2.3% higher than a year earlier, representing a stronger performance compared to the 1.7% growth registered in the first quarter.
Among the G7 economies, growth was comparatively weaker than the broader OECD trend. The combined G7 GDP expansion slowed to 0.3% in the second quarter from 0.4% in the first. Germany and Italy each grew by 0.2%, while Japan increased by 0.3%. The United Kingdom and the United States both saw quarterly gains of 0.4%. Canada’s economy accelerated to 0.8% after no growth in the prior quarter, and France returned to a 0.2% growth rate following a 0.1% contraction.
G7 growth rate cools as Canada picks up pace
The deceleration observed in five G7 economies primarily reflected sluggish activity in key components of output. In Japan, private consumption remained flat, inventories declined, and investment decreased. The United Kingdom experienced softer private and government consumption. Meanwhile, the United States faced slower export growth, reductions in inventories, and lower government spending, all contributing to a slower quarterly expansion. Despite this, the broader OECD area saw a slightly quicker overall growth rate.
The starkest contrasts appeared in Canada and France. Canada’s economy shifted from zero growth in the first quarter to an expansion of 0.8% in the second. France reversed a 0.1% contraction in the first quarter, posting a 0.2% increase. Elsewhere, Ireland and Israel experienced notably stronger quarterly gains than other OECD participants. The three economies with stagnant GDP were Austria, Belgium, and Chile.
OECD’s annual growth rate climbs to 2.3%
On a year-over-year basis, the second quarter revealed a more widespread acceleration across the OECD nations. GDP was 2.3% higher compared to the same period in 2025, surpassing the 1.7% annual growth seen in the first quarter. Among G7 members, the United States achieved the strongest annual growth at 2.1%, while Japan recorded the slowest at 0.5%. The annual comparison provides an alternative perspective to the quarter-on-quarter fluctuations in economic output.
The OECD classified its second-quarter estimates as provisional. The release covered 30 member countries for which GDP data was available at the time. The organization has scheduled its next quarterly GDP update for November 19, 2026. The August figures remain the latest comprehensive measure of second-quarter growth across the available member economies, indicating a faster overall expansion despite slower growth among the G7 countries.