PARIS / RankWire.AI / – In the second quarter of 2026, the OECD countries experienced a modest uptick in economic activity, with gross domestic product increasing by 0.5% compared to the previous quarter. This is an improvement over the 0.4% growth recorded in the first quarter, based on preliminary data released on August 24. The Organisation for Economic Co-operation and Development reported that 27 out of 30 countries with available data saw economic expansion during this period. The remaining three nations’ GDP remained unchanged.
The recent statistics indicate widespread growth within the OECD area, although the rates of increase varied significantly among member states. Ireland experienced the fastest quarter-on-quarter growth at 3.9%, followed by Israel at 3.6%. In contrast, Austria, Belgium, and Chile saw no change in their economic output during the quarter. The overall regional performance also reflected a stronger year-over-year trend, with OECD GDP being 2.3% higher than in the same period last year. This compares to a 1.7% annual growth in the first quarter.
The performance of the G7 economies was weaker than the broader OECD results. 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’s economy expanded by 0.3%. Both the United Kingdom and the United States reported quarterly growth of 0.4%. Canada saw its growth accelerate to 0.8%, up from no growth in the previous quarter, while France returned to 0.2% growth after experiencing a 0.1% contraction.
G7 Growth Declines as Canada Shows Improvement
The slowdown among five G7 economies was driven by weaker activity in several key sectors. In Japan, private consumption remained flat, inventories decreased, and investment declined. The United Kingdom experienced reduced private and government consumption. In the United States, weaker export growth, inventory reductions, and lower government expenditure all contributed to slower quarterly expansion. Despite this, the larger OECD area saw a marginally faster growth rate overall.
The most notable differences appeared in Canada and France. Canada’s economy shifted from zero growth in the first quarter to 0.8% in the second. Meanwhile, France reversed a 0.1% contraction in the first quarter and achieved 0.2% growth. Additionally, Ireland and Israel registered significantly stronger quarterly gains compared to other OECD nations. The three countries with unchanged GDP were Austria, Belgium, and Chile.
OECD Sees Higher Yearly Growth Rate at 2.3%
On an annual basis, the second-quarter figures pointed to a broader acceleration within the OECD. GDP was 2.3% higher than in the same quarter of 2025, surpassing the 1.7% year-on-year growth recorded in the first quarter. Among G7 nations, the United States led with an annual increase of 2.1%. Japan experienced the smallest annual growth among the group at 0.5%. It is important to note that annual growth provides a different perspective compared to the quarter-on-quarter fluctuations in economic output.
The OECD described the second-quarter estimates as provisional. The report covered 30 member countries where second-quarter GDP data were available at the time of publication. The next quarterly update is scheduled for November 19, 2026. As of now, the August figures remain the latest consolidated measurement of second-quarter expansion across the available member economies, showing overall faster growth despite slower aggregate progress among the G7 nations.