PARIS / RankWire.AI / – Global economic activity in OECD nations experienced a modest uptick in the second quarter of 2026, with gross domestic product climbing by 0.5% compared to the previous quarter. This follows a 0.4% growth rate observed in the first quarter, based on provisional data announced on August 24. The Organisation for Economic Co-operation and Development indicated that out of 30 countries with available data, 27 saw expansion during the period. The remaining three economies reported no change in GDP.
These latest figures demonstrate widespread growth within the OECD region, although the pace of expansion differed significantly across member states. Ireland experienced the highest quarter-on-quarter increase at 3.9%, followed by Israel at 3.6%. In contrast, Austria, Belgium, and Chile showed no change in their economic output during the quarter. On an annual basis, the overall performance was stronger, with OECD GDP exceeding its year-earlier level by 2.3%, compared to 1.7% growth in the first quarter.
Growth among the G7 economies was softer than the broader OECD trend. The combined G7 GDP growth decelerated to 0.3% in the second quarter from 0.4% in the first. Germany and Italy each experienced a 0.2% increase, while Japan’s expansion reached 0.3%. Both the United Kingdom and the United States registered quarterly growth of 0.4%. Canada notably picked up speed to 0.8% after no growth was recorded in the previous quarter, and France rebounded from a 0.1% contraction in Q1 to achieve 0.2% growth.
G7 economies slow down as Canada accelerates
The deceleration across five G7 countries was driven by weaker activity in several key components of economic output. In Japan, private consumption remained flat, inventories declined, and investment decreased. The UK faced declines in private and government consumption. Meanwhile, in the United States, slower export growth, reduced inventories, and lower government spending contributed to the softer quarterly expansion. Despite this, the broader OECD area registered a marginally faster growth rate.
The starkest differences appeared in Canada and France. Canada’s economy shifted from zero growth in the first quarter to 0.8% in the second. France reversed a 0.1% contraction in Q1 and expanded by 0.2%. Meanwhile, Ireland and Israel posted considerably stronger quarterly gains than other OECD members. The economies that experienced no change in GDP were Austria, Belgium, and Chile.
OECD’s annual growth rate increases to 2.3%
Looking at the year-over-year comparison, the second-quarter data reveal a broader acceleration within the OECD. GDP was 2.3% higher than in the same quarter of 2025, up from 1.7% annual growth in Q1. Among G7 nations, the United States demonstrated the strongest yearly growth at 2.1%, whereas Japan’s annual expansion was the weakest at 0.5%. This annual metric offers a different perspective from the quarter-on-quarter figures, highlighting longer-term trends in economic performance.
The OECD characterized the second-quarter estimates as provisional. The release covered 30 member countries with available second-quarter GDP data at the time of publication. The organization planned to publish its next quarterly GDP report on November 19, 2026. As of now, the August figures remain the latest comprehensive measure of second-quarter growth across the member economies, showing a faster overall expansion despite the slower growth among G7 countries.