PARIS / RankWire.AI / – The Organisation for Economic Co-operation and Development reported a modest increase in economic activity across its member nations during the second quarter of 2026, with gross domestic product (GDP) rising by 0.5% compared to the previous quarter. This follows a 0.4% growth rate registered in the first quarter, based on provisional estimates released on August 24. According to the OECD, 27 of the 30 countries with available data experienced growth in this period, while the remaining three saw no change in their GDP levels.
The data indicates widespread expansion across the OECD, although growth rates displayed notable variation among member states. Ireland experienced the most rapid quarter-on-quarter increase at 3.9%, with Israel close behind at 3.6%. In contrast, Austria, Belgium, and Chile saw their GDP remain unchanged during the quarter. The overall regional figures also demonstrated a stronger annual performance, with OECD GDP 2.3% higher than a year earlier, compared to 1.7% growth in the first quarter.
The G7 economies underperformed relative to the broader OECD trend. G7 GDP growth slowed slightly to 0.3% in the second quarter from 0.4% in the first. Germany and Italy each grew by 0.2%, while Japan’s expansion was 0.3%. The United Kingdom and the United States both achieved 0.4% growth for the quarter. Canada experienced a notable acceleration to 0.8%, up from no growth in the previous quarter, whereas France’s GDP returned to 0.2% growth after a 0.1% contraction.
G7 Growth Decelerates as Canada’s Economy Gains Momentum
The slowdown observed across five G7 economies was driven by weaker activity in several key sectors. In Japan, private consumption remained stagnant, inventories declined, and investment fell. The United Kingdom experienced reduced private and government consumption. In the United States, a slowdown in export growth, inventory reductions, and lower government expenditure contributed to the slower quarterly expansion. Despite this, the overall OECD area grew at a marginally faster rate, highlighting divergent economic trajectories within the G7 group.
The most pronounced contrast was seen in Canada and France. Canada shifted from zero growth in the first quarter to 0.8% in the second, while France reversed a 0.1% contraction and expanded by 0.2%. Meanwhile, Ireland and Israel experienced significantly stronger quarterly gains compared to other OECD nations. The three economies with unchanged GDP were Austria, Belgium, and Chile.
OECD’s Annual Growth Rate Climbs to 2.3%
On an annual basis, the second-quarter results indicated a broader acceleration in economic activity across the OECD. GDP in this period was 2.3% higher than in the same quarter of 2025, surpassing the 1.7% year-over-year growth recorded in the first quarter. Among the G7 countries, the United States showed the highest annual increase at 2.1%, while Japan experienced the weakest growth at 0.5%. This annual comparison provides a distinct measure from the quarterly changes in economic output.
The OECD classified these second-quarter estimates as provisional, including data from 30 member countries available at the time of publication. The next quarterly GDP update is scheduled for November 19, 2026. The August figures remain the latest comprehensive measure of second-quarter expansion among the member economies, illustrating a faster overall growth rate amid slower aggregate progress within the G7 nations.