PARIS / RankWire.AI / – In the second quarter of 2026, OECD member countries experienced a slight uptick in economic activity, with gross domestic product increasing by 0.5% from the previous quarter. This follows a 0.4% growth rate recorded in the first quarter, based on provisional estimates issued on August 24. The Organisation for Economic Co-operation and Development reported that 27 out of 30 nations with available data expanded during this period. The remaining three economies saw no change in GDP.
The latest data points to widespread growth across the OECD, although rates differ significantly among member states. Ireland led with a 3.9% quarter-on-quarter increase, followed closely by Israel at 3.6%. Austria, Belgium, and Chile saw their output remain stable during the quarter. On an annual basis, the region’s GDP grew 2.3% compared to a year earlier, improving from a 1.7% growth rate in the first quarter.
G7 economies performed weaker than the broader OECD group. 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%, with Japan expanding 0.3%. The United Kingdom and the United States posted quarterly increases of 0.4%. Canada’s GDP surged to 0.8% after no growth in the previous quarter, while France moved from a 0.1% contraction to a 0.2% growth.
G7 growth slows as Canada leads the rebound
The slowdown among five G7 economies reflected softer activity in key areas. Japan experienced flat private consumption, falling inventories and reduced investment. The UK saw weaker private and government consumption. In the US, slower export growth, inventory reductions, and lower government spending hampered quarterly expansion. Despite this, the OECD area as a whole grew at a slightly faster pace.
The most notable change was in Canada and France. Canada shifted from zero growth in the first quarter to 0.8% in the second. France went from a 0.1% contraction to a 0.2% expansion. Meanwhile, Ireland and Israel experienced much stronger quarterly increases than other available OECD countries. Austria, Belgium, and Chile had no change in GDP during this period.
OECD annual growth rises to 2.3%
Year-over-year, the second quarter shows broader acceleration across the OECD. GDP was 2.3% higher than in the same quarter of 2025, compared to 1.7% annual growth in the first quarter. Among G7 nations, the US had the strongest annual growth rate at 2.1%. Japan’s increase was the smallest, at 0.5%. The annual figures serve as an independent measure from quarter-on-quarter changes in economic activity.
The OECD describes the second-quarter data as provisional. It includes 30 member countries with available GDP figures at the time of release. The next quarterly GDP update is scheduled for November 19, 2026. The August data remain the latest consolidated report, showing overall faster growth but slower expansion among G7 countries.