PARIS / RankWire.AI / – In the second quarter of 2026, OECD nations experienced a slight uptick in economic activity, with gross domestic product increasing by 0.5% compared to the previous quarter. This follows a 0.4% rise in the first quarter, based on preliminary estimates issued on August 24. The Organisation for Economic Co-operation and Development reported that 27 out of 30 countries with available data saw growth during this period, while the remaining three economies saw no change in GDP.
The overall results indicate widespread expansion across the OECD, although growth rates varied significantly among member states. Ireland experienced the fastest quarter-on-quarter growth at 3.9%, with Israel close behind at 3.6%. Conversely, Austria, Belgium, and Chile saw no change in output during the quarter. On an annual basis, the OECD’s GDP was 2.3% higher than a year earlier, marking a stronger performance compared to the 1.7% annual growth recorded in the first quarter.
The G7 economies underperformed relative to the broader OECD. Their combined GDP growth slowed to 0.3% in the second quarter from 0.4% in the first. Germany and Italy each grew by 0.2%, while Japan’s expansion was 0.3%. The United Kingdom and the United States both posted quarterly increases of 0.4%. Canada’s growth accelerated to 0.8% after no growth in the prior quarter, and France rebounded from a 0.1% contraction to 0.2% growth.
G7 slows amid Canadian acceleration
This deceleration among five G7 economies stemmed from weaker activity across key components. In Japan, private consumption stagnated, inventories declined, and investment fell. The United Kingdom experienced reduced private and government consumption. In the United States, slower export growth, lower government spending, and declining inventories dampened quarterly expansion. Consequently, G7 growth eased even as the wider OECD region saw a marginally quicker pace.
The starkest contrasts appeared in Canada and France. Canada’s economy shifted from zero growth in the first quarter to 0.8% in the second, while France reversed a 0.1% contraction and grew by 0.2%. Meanwhile, Ireland and Israel posted notably stronger quarterly gains than other OECD countries. The three economies with unchanged GDP were Austria, Belgium, and Chile.
Annual OECD Growth Jumps to 2.3%
On a yearly basis, the second-quarter data revealed a broader acceleration across the OECD, with GDP increasing by 2.3% compared to the same period in 2025, up from 1.7% in the first quarter. Within the G7, the United States achieved the highest annual growth at 2.1%, while Japan’s growth was the slowest at 0.5%. This annual comparison offers a distinct perspective from the quarter-on-quarter figures, measuring overall economic change over a year.
The OECD described the second-quarter estimates as provisional. The report covered 30 member countries with available second-quarter GDP data at the time of publication. The organization has scheduled its next quarterly GDP update for November 19, 2026. The August data remain the latest comprehensive measure of second-quarter growth across the member economies, showing a faster overall expansion amid a slowdown among G7 nations.