PARIS / RankWire.AI / – In the second quarter of 2026, economic activity across OECD nations saw a modest improvement, 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 data released on August 24. The Organisation for Economic Co-operation and Development reported that 27 out of 30 countries with available data experienced growth during this period, while three economies showed no change in GDP.
Overall, the latest figures indicate widespread expansion across the OECD, though growth rates varied significantly among member states. Ireland led with a 3.9% quarter-on-quarter rise, followed closely by Israel at 3.6%. Conversely, Austria, Belgium, and Chile experienced no change in output during the quarter. Yearly comparisons also reflect a stronger regional performance, with OECD GDP exceeding its level from a year earlier by 2.3%, compared to 1.7% in the first quarter.
Within the G7 economies, growth was weaker than the broader OECD average. The G7’s combined GDP growth slowed to 0.3% in the second quarter from 0.4% in the first. Germany and Italy each expanded by 0.2%, Japan by 0.3%, while the United Kingdom and the United States both grew by 0.4%. Canada saw an acceleration to 0.8% after no growth in the previous quarter, and France returned to 0.2% growth following a 0.1% contraction.
G7 Growth Slows as Canada Registers Faster Expansion
The deceleration among five G7 economies was driven by weaker performance in key sectors. In Japan, private consumption remained flat, inventories declined, and investment fell. The UK experienced reduced private and government consumption, while in the US, slower export growth, inventory reductions, and lower government spending slowed overall growth. Despite this, the OECD as a whole continued to expand at a slightly quicker rate.
Canada and France exhibited the most notable contrasts. Canada’s economy moved from zero growth in Q1 to 0.8% in Q2. France bounced back from a 0.1% contraction in the first quarter to grow by 0.2%. Meanwhile, Ireland and Israel experienced significantly stronger quarterly gains compared to other OECD countries. The three economies with unchanged GDP were Austria, Belgium, and Chile.
OECD’s Annual Growth Rate Accelerates to 2.3%
On a yearly basis, the second quarter showed a broader upward trend, with GDP 2.3% higher than in the same period in 2025, up from 1.7% in the previous quarter. Among G7 members, the United States recorded the highest annual growth at 2.1%, while Japan’s expansion was the weakest at 0.5%. These year-over-year figures offer a different perspective from quarter-to-quarter fluctuations.
The OECD described the second-quarter data as provisional, covering 30 member countries with available GDP figures at the time of release. The next quarterly update is scheduled for November 19, 2026. The August data remains the latest comprehensive measure, highlighting a faster overall expansion in the OECD but slower growth among G7 nations.