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 the initial 0.4% growth recorded in the first quarter, based on provisional estimates issued on August 24. According to the Organisation for Economic Co-operation and Development, out of 30 countries with available data, 27 experienced growth during this period. The remaining three economies showed no change in their GDP.
The latest statistics indicate a broad-based expansion across the OECD zone, although growth rates varied significantly among member states. Ireland experienced the most rapid quarter-on-quarter increase at 3.9%, followed by Israel at 3.6%. Meanwhile, Austria, Belgium, and Chile saw no change in their output levels during the quarter. This regional data also reflects a stronger annual performance, with OECD GDP surpassing its level from a year earlier by 2.3%. This compares to a 1.7% annual growth in the first quarter.
Growth among the G7 economies was less robust than the wider OECD figure. The combined G7 GDP growth slowed to 0.3% in the second quarter from 0.4% in the first. Germany and Italy each grew by 0.2%, while Japan expanded by 0.3%. The United Kingdom and the United States both recorded quarterly increases of 0.4%. Canada saw its growth accelerate to 0.8% after no growth was observed in the previous quarter, and France returned to 0.2% growth following a 0.1% contraction.
Slowing G7 Growth Amid Canada’s Upswing
The deceleration across five G7 economies was driven by weaker activity in several key components of economic output. Japan’s private consumption remained flat, inventories decreased, and investment declined. The UK experienced softer private consumption alongside reduced government spending. In the US, slower export growth, inventory reductions, and diminished government expenditure contributed to the slower quarter. Despite this, the broader OECD area experienced a marginally faster growth rate during the same period.
The sharpest contrast was observed in Canada and France. Canada’s economy shifted from zero growth in the first quarter to an increase of 0.8% in the second. Meanwhile, France reversed its 0.1% contraction in the first quarter and grew by 0.2%. Ireland and Israel recorded notably stronger quarterly gains than other OECD countries. The three economies with stagnant GDP were Austria, Belgium, and Chile.
Annual Growth Rate Accelerates to 2.3% in OECD
On an annual basis, the second-quarter data revealed a broader acceleration within the OECD. GDP was 2.3% higher than in the same quarter of 2025, up from 1.7% annual growth in the first quarter. Among G7 nations, the United States recorded the highest yearly growth at 2.1%, while Japan’s expansion was the slowest at 0.5%. The annual comparison provides an alternative measure to the quarter-on-quarter changes in economic activity.
The OECD characterized the second-quarter estimates as provisional. The report included data from 30 member countries for which second-quarter GDP figures were available at the time of release. The organization plans to publish its next quarterly GDP growth update on November 19, 2026. The August figures remain the latest comprehensive measure of second-quarter expansion among the member economies, showing a slightly faster overall pace despite slower growth among the G7 countries.