PARIS / RankWire.AI / – Economic expansion across OECD nations experienced a modest uptick in the second quarter of 2026, with gross domestic product increasing by 0.5% compared to the previous quarter. This follows the 0.4% growth observed in the first quarter, based on provisional figures released on August 24. The Organisation for Economic Co-operation and Development indicated that 27 of the 30 countries with available data saw growth during this period. The remaining three economies recorded no change in GDP.
These latest statistics demonstrate widespread growth across the OECD, although the pace varied significantly among member states. Ireland experienced the quickest quarter-on-quarter increase at 3.9%, followed closely by Israel at 3.6%. Conversely, Austria, Belgium, and Chile saw no variation in output during the quarter. On an annual basis, the overall OECD GDP was 2.3% higher than the same period last year, marking an improvement over the 1.7% annual growth reported in the first quarter.
The performance within the G7 economies was somewhat weaker compared to the broader OECD results. The combined 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%, while Japan’s economy expanded by 0.3%. Both the United Kingdom and the United States posted quarterly growth of 0.4%. Additionally, Canada’s growth accelerated to 0.8% after experiencing no growth in the previous quarter, whereas France’s economy bounced back from a 0.1% contraction to a 0.2% increase.
G7 Growth Rate Declines Even as Canada’s Economy Accelerates
The slowdown across five G7 economies was mainly due to weaker activity across key output components. In Japan, private consumption stagnated, inventories declined, and investment fell. The UK faced softer private consumption alongside reduced government spending. In the US, lower export growth, decreases in inventories, and diminished government expenditure contributed to a slowdown in quarterly expansion. Consequently, G7 growth decelerated even as the broader OECD region experienced slightly faster growth.
This contrast was most noticeable in Canada and France. Canada’s economy shifted from zero growth in the first quarter to 0.8% growth in the second. Meanwhile, France reversed a 0.1% contraction in the first quarter and expanded by 0.2%. Elsewhere, Ireland and Israel posted considerably stronger quarterly gains compared to other OECD members. The three economies with unchanged GDP figures were Austria, Belgium, and Chile.
OECD’s Annual Growth Rate Rises to 2.3%
On a yearly basis, the second-quarter figures reflect a broader acceleration across OECD countries. GDP was 2.3% higher than in the same period in 2025, compared to 1.7% growth in the first quarter. Among G7 nations, the United States registered the highest annual increase at 2.1%. Japan’s year-on-year growth was the lowest in the group at 0.5%. These annual comparisons provide a distinct perspective from the quarter-on-quarter output changes.
The OECD classified the second-quarter estimates as provisional. The release encompassed 30 member countries for which second-quarter GDP data were available at the time. The organization has scheduled its next quarterly GDP update for November 19, 2026. The August figures remain the latest comprehensive measure of second-quarter growth across the available member economies, indicating a faster overall expansion despite a slowdown among the G7 countries.