PARIS / RankWire.AI / – Economic activity across OECD nations showed a modest uptick in the second quarter of 2026, with gross domestic product increasing by 0.5% compared to the previous quarter. This follows a 0.4% growth rate in Q1, based on provisional estimates released on August 24. The Organisation for Economic Co-operation and Development noted that 27 out of 30 countries with available data experienced growth during this period, while three economies saw no change in GDP.
The latest data reflects widespread expansion within the OECD, although growth rates varied significantly among member states. Ireland led with a 3.9% quarter-on-quarter increase, closely followed by Israel at 3.6%. Conversely, Austria, Belgium, and Chile saw no variation in their output. The regional figures also demonstrate a stronger annual performance, with OECD GDP 2.3% higher than in the same quarter of 2025, compared to 1.7% growth in Q1.
G7 economies lagged behind the broader OECD trend, with a combined GDP increase of only 0.3% in Q2, down from 0.4% in Q1. Germany and Italy each grew by 0.2%, while Japan expanded by 0.3%. Both the United Kingdom and the United States experienced 0.4% quarterly growth. Canada saw a notable acceleration to 0.8% after no growth in the previous quarter, and France returned to 0.2% growth following a 0.1% contraction.
G7 Growth Decelerates Despite Canada’s Rise
The deceleration among five G7 economies stemmed from weaker performance across several key sectors. In Japan, private consumption stagnated, inventories declined, and investment dropped. The United Kingdom faced reduced private and government consumption. The United States experienced slower export growth, lower government spending, and inventory reductions, all contributing to a slowdown in quarterly expansion. Consequently, G7 growth eased even as the wider OECD region maintained a slightly faster momentum.
Canada and France displayed the most dramatic differences. Canada’s economy shifted from zero growth in Q1 to 0.8% in Q2, while France reversed a 0.1% contraction to grow by 0.2%. In contrast, Ireland and Israel posted significantly stronger quarterly gains than most other OECD nations. The three economies with unchanged GDP were Austria, Belgium, and Chile.
OECD Annual Growth Accelerates to 2.3%
Year-over-year comparisons reveal a broader acceleration, with OECD GDP 2.3% higher than in the same quarter of 2025, compared to 1.7% annual growth in Q1. Among the G7 countries, the United States registered the highest annual increase at 2.1%, while Japan’s growth was the lowest at 0.5%. This annual figure provides a distinct measure from quarterly changes, highlighting longer-term trends.
The OECD noted that the second-quarter estimates are provisional, covering 30 member countries for which data was available at the time. The next quarterly GDP report is scheduled for November 19, 2026. As of now, the August figures remain the most recent comprehensive overview of second-quarter growth, showing an overall faster expansion despite slower growth among G7 members.