PARIS / RankWire.AI / – In the second quarter of 2026, economic activity across OECD nations experienced a modest increase, with gross domestic product (GDP) rising by 0.5% compared to the previous quarter. This follows a 0.4% growth rate in the first quarter, based on provisional estimates published on August 24. According to the Organisation for Economic Co-operation and Development, 27 out of 30 countries with available data expanded during this period, while the remaining three economies showed no change in GDP.
The most recent data indicates widespread growth across the OECD region, although the pace varied significantly among member countries. Ireland led with a quarter-on-quarter increase of 3.9%, followed by Israel at 3.6%. Conversely, Austria, Belgium, and Chile experienced no variation in their economic output during the quarter. The regional results also reflect a stronger annual performance, with OECD GDP being 2.3% higher than a year earlier, surpassing the 1.7% annual growth seen in the first quarter.
The performance of the G7 economies was weaker than the broader OECD outcome. 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%, whereas Japan expanded by 0.3%. The United Kingdom and the United States achieved quarterly growth of 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 Expansion Decelerates as Canada Speeds Up
The slowdown across five G7 economies was driven by weaker activity in several key components of output. In Japan, private consumption remained flat, inventories declined, and investment decreased. The United Kingdom experienced softer private consumption and reduced government spending. Meanwhile, the United States faced slower export growth, inventory reductions, and lower government expenditure, all contributing to a slower quarterly expansion. Despite this, the overall OECD region saw a marginally quicker pace of growth.
The most pronounced differences were observed in Canada and France. Canada’s economy shifted from zero growth in the first quarter to 0.8% in the second, while France moved from a 0.1% contraction to a 0.2% expansion. Elsewhere, Ireland and Israel recorded notably stronger quarterly gains compared to other OECD countries. The three economies with unchanged GDP were Austria, Belgium, and Chile.
OECD’s Yearly Growth Rate Rises to 2.3%
On an annual basis, the second-quarter figures indicate a broader acceleration in economic growth within the OECD. GDP was 2.3% higher than in the same period of 2025, compared to 1.7% annual growth in the first quarter. The United States led G7 economies with the strongest yearly increase at 2.1%, while Japan experienced the slowest growth at 0.5%. These annual comparisons serve as a separate indicator from the quarter-on-quarter changes in economic output.
The OECD described 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 publication. The organization has scheduled its next quarterly GDP update for November 19, 2026. The August data remains the latest comprehensive measure of second-quarter growth among the member economies, showing a faster overall expansion despite slower aggregate growth among the G7 nations.