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 is a slight rise from the 0.4% growth initially estimated for the first quarter, as per provisional data published on August 24. The Organisation for Economic Co-operation and Development noted that 27 out of 30 nations with available data expanded in this period, while three economies saw no change in GDP.
The latest statistics indicate a broad-based expansion throughout the OECD, although growth rates differed significantly among member countries. Ireland led with a 3.9% quarter-on-quarter increase, followed by Israel at 3.6%. Conversely, Austria, Belgium, and Chile experienced no change in economic output during the same timeframe. On an annual basis, the overall OECD GDP was 2.3% higher than the previous year, a notable improvement from the 1.7% growth reported in the first quarter.
Within the G7 economies, performance lagged behind the broader OECD trend. The combined G7 GDP growth rate slowed to 0.3% in the second quarter, down from 0.4% in the first. Germany and Italy each grew by 0.2%, while Japan’s economy expanded by 0.3%. The United Kingdom and the United States recorded quarterly growth of 0.4%. Canada’s economy accelerated to 0.8% after remaining stagnant previously, and France returned to a 0.2% growth following a 0.1% contraction.
G7 Growth Decelerates as Canada Gains Momentum
The deceleration within five G7 economies was driven by weaker performances across key sectors. In Japan, private consumption remained flat, inventories declined, and investment dropped. The United Kingdom experienced reduced private and government consumption. Meanwhile, the United States saw a slowdown due to weaker export growth, inventory reductions, and lower government spending, contributing to a tempered quarterly expansion. Despite this, the broader OECD area saw a marginally faster overall growth rate.
A stark contrast appeared in Canada and France, where the economic trajectory was notably different. Canada’s economy shifted from zero growth in the first quarter to a 0.8% increase, while France reversed a 0.1% contraction, growing by 0.2%. Ireland and Israel experienced significantly stronger quarterly gains than other available OECD countries. The three economies with unchanged GDP figures were Austria, Belgium, and Chile.
Annual Expansion of OECD GDP Accelerates to 2.3%
Over the course of a year, the second-quarter data reveal a broader acceleration across the OECD, with GDP being 2.3% higher than in the same quarter of 2025. This compares to a 1.7% annual growth rate in the first quarter. Among G7 members, the United States posted the strongest year-on-year increase at 2.1%, whereas Japan experienced the smallest at 0.5%. This annual comparison provides an alternative perspective to the quarter-on-quarter shifts in economic activity.
The OECD categorized these second-quarter estimates as provisional. The report covered 30 member nations for which GDP data were available at the time of publication. The next quarterly update is scheduled for November 19, 2026. The August figures remain the most recent comprehensive measure of second-quarter growth across the available member economies, indicating a slightly quicker overall expansion but a slower growth rate within the G7 countries.