PARIS / RankWire.AI / – Economic activity across OECD countries experienced a modest uptick in the second quarter of 2026, with gross domestic product growing by 0.5% compared to the previous quarter. This follows a 0.4% increase in the first quarter, based on preliminary data published on August 24. The Organisation for Economic Co-operation and Development noted that out of 30 nations with available information, 27 saw economic expansion during the period. The remaining three countries’ GDP remained unchanged.
The latest data indicates a general expansion across the OECD, although growth rates differed significantly among members. Ireland experienced the most rapid quarter-on-quarter rise at 3.9%, followed by Israel at 3.6%. Conversely, Austria, Belgium, and Chile recorded no change in output during the same period. On an annual basis, the overall OECD performance was also stronger, with GDP being 2.3% higher than a year earlier, compared to 1.7% annual growth in the first quarter.
G7 economies underperformed relative to the broader OECD, with their combined GDP growth slowing to 0.3% in the second quarter from 0.4% in the first. Germany and Italy each grew by 0.2%, Japan saw a 0.3% increase, while the United Kingdom and the United States each expanded by 0.4%. Canada moved from zero growth in the previous quarter to a notable 0.8%, and France rebounded from a 0.1% contraction to 0.2% growth.
G7 growth decelerates as Canada accelerates
The deceleration among five G7 economies was driven by weaker performance in key output components. In Japan, private consumption stagnated, inventories declined, and investment fell. The United Kingdom experienced softer private and government consumption. Meanwhile, in the United States, slowing export growth, reductions in inventories, and lower government spending contributed to the subdued quarterly expansion. Despite this, the overall OECD growth rate was slightly faster than the G7.
The starkest contrasts appeared in Canada and France. Canada’s economy shifted from no growth in the first quarter to a solid 0.8% rise in the second. France reversed a 0.1% contraction in the first quarter to achieve 0.2% growth. Meanwhile, Ireland and Israel experienced significantly stronger quarterly gains than other OECD members. Austria, Belgium, and Chile were the only economies with stagnant GDP during this period.
OECD’s annual growth rate climbs to 2.3%
On a yearly basis, the second-quarter data point to a more widespread acceleration across the OECD. GDP was 2.3% higher than in the same quarter of 2025, a notable increase from the 1.7% annual growth observed in the first quarter. Among G7 nations, the United States posted the strongest annual increase at 2.1%, while Japan’s growth was the weakest at 0.5%. This annual comparison provides a different perspective from the quarter-on-quarter figures.
The OECD described the second-quarter estimates as provisional. The report covered 30 member countries with available second-quarter GDP data at the time of release. The organization plans to publish its next quarterly GDP update on November 19, 2026. As of August, these figures remain the latest consolidated measure of second-quarter expansion across the member economies, showing a slightly faster pace overall but slower growth among G7 countries.