PARIS / RankWire.AI / – During the second quarter of 2026, economic activity across member countries of the Organisation for Economic Co-operation and Development experienced a modest uptick, with gross domestic product increasing by 0.5% compared to the previous quarter. In the first quarter, growth was recorded at 0.4%, based on provisional estimates issued on August 24. The organization reported that out of 30 countries with available data, 27 experienced economic expansion in this period. The remaining three economies showed no change in GDP.
These latest figures point to widespread growth within the OECD, although the pace varied significantly among member nations. Ireland led with the fastest quarterly increase at 3.9%, followed closely by Israel at 3.6%. Austria, Belgium, and Chile saw no variation in their output during the same period. Additionally, the overall regional performance reflected a stronger annual comparison, with OECD GDP standing 2.3% above its level from a year earlier. This contrasts with the 1.7% annual growth observed in the first quarter.
The performance of the G7 economies was weaker than the broader OECD results. Their combined 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 growth of 0.4%. Notably, Canada’s economy accelerated to 0.8% after no growth in the previous quarter, and France returned to 0.2% growth following a 0.1% contraction.
Slowdown in G7 as Canada Shows Growth Acceleration
The deceleration across five G7 nations was driven by weaker performance in key economic components. In Japan, private consumption remained flat, inventories declined, and investment dropped. The United Kingdom experienced reduced private consumption and lower government spending. Meanwhile, in the United States, a slowdown was evident through weaker export growth, inventory reductions, and decreased government expenditure. Despite this, the broader OECD region maintained a slightly faster growth rate than the G7.
The most notable contrast appeared in Canada and France. Canada’s economy shifted from zero growth in the first quarter to 0.8% in the second, while France reversed a 0.1% contraction in the first quarter and expanded by 0.2%. Ireland and Israel recorded significantly stronger quarterly gains than 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 data indicated a broader acceleration across the OECD. GDP was 2.3% higher than in the same period in 2025, compared to 1.7% growth in the first quarter. Among G7 economies, the United States demonstrated the strongest annual growth at 2.1%, whereas Japan experienced the slowest at 0.5%. The annual comparison provides an independent perspective from the quarter-on-quarter output changes.
The OECD categorized the second-quarter estimates as provisional. The report included data from 30 member countries where second-quarter GDP figures were available at the time of release. The organization has scheduled its next quarterly GDP report for November 19, 2026. The August figures remain the most recent comprehensive measure of second-quarter growth across the available member economies, showing a faster overall expansion but a slower aggregate growth among the G7 countries.