PARIS / RankWire.AI / – In the second quarter of 2026, economic activity across OECD nations showed a modest upswing, with gross domestic product (GDP) expanding by 0.5% compared to the previous quarter. This follows a 0.4% growth in the first quarter, based on initial estimates announced on August 24. The Organisation for Economic Co-operation and Development indicated that 27 out of 30 nations with available data experienced growth during this period, while the remaining three economies saw no change in their GDP levels.
Overall, the latest data suggests widespread growth across the OECD, though the pace of expansion differed significantly among member countries. Ireland led with the highest quarter-on-quarter increase at 3.9%, closely followed by Israel at 3.6%. Conversely, Austria, Belgium, and Chile reported no growth during the quarter. The regional results also reflect a stronger yearly performance, with OECD GDP being 2.3% higher than the same quarter last year, contrasting with a 1.7% increase in the first quarter.
The G7 economies showed a weaker growth trajectory than the broader OECD, with their combined GDP increasing by only 0.3% in the second quarter, down from 0.4% in the first. Germany and Italy each recorded a growth of 0.2%, while Japan’s economy expanded by 0.3%. The United Kingdom and the United States experienced quarter-over-quarter growth of 0.4%, with Canada accelerating from no growth in the previous quarter to 0.8%, and France rebounding from a 0.1% contraction to 0.2% growth.
Slowdown in G7 Economies as Canada Speeds Up
This deceleration among five G7 nations stemmed from weaker activity across key components of output. Japan faced stagnant private consumption, declining inventories, and reduced investment. The United Kingdom experienced softer private consumption and diminished government spending. In the United States, sluggish export growth, inventory reductions, and lower government expenditure contributed to a slower quarterly expansion. Despite these setbacks, the overall OECD growth rate slightly increased, driven by stronger performances elsewhere.
Canada and France displayed the most notable contrasts. Canada’s economy moved from zero growth in the first quarter to 0.8% in the second, while France reversed a 0.1% contraction and recorded a 0.2% expansion. Other notable gains were seen in Ireland and Israel, which reported significantly higher quarterly increases than the majority of the OECD sample. The economies with unchanged GDP included Austria, Belgium, and Chile.
OECD’s Yearly Growth Rate Accelerates to 2.3%
Compared to the same period last year, second-quarter figures reveal a broader acceleration within the OECD, with GDP rising by 2.3% versus 1.7% in the first quarter. Among the G7, the United States registered the strongest annual growth rate at 2.1%, whereas Japan experienced the slowest at 0.5%. The annual comparison provides a different perspective from the quarter-on-quarter changes, offering a more comprehensive view of the economic trajectory.
The OECD described these second-quarter estimates as provisional. The report covered 30 member countries for which GDP data was available at the time of publication. The organization has scheduled its next quarterly GDP update for November 19, 2026. As of now, the August figures remain the latest consolidated data, illustrating a faster overall expansion amid a slower growth trend among G7 nations.