PARIS / RankWire.AI / – The Organisation for Economic Co-operation and Development announced that economic activity in its member countries experienced a slight 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 in the first quarter, based on preliminary estimates issued on August 24. Out of the 30 countries with available data, 27 saw economic expansion during this period, while the remaining three economies reported no change in GDP.
The latest data indicates widespread growth within the OECD, although there was considerable variation among individual nations. Ireland recorded the highest quarter-on-quarter increase at 3.9%, with Israel close behind at 3.6%. Conversely, Austria, Belgium, and Chile experienced no growth during the quarter. The overall regional performance also demonstrated a stronger yearly comparison, with OECD GDP being 2.3% higher than the same period last year. This is an improvement from the 1.7% annual growth observed in the first quarter.
The performance of the G7 economies was weaker than the broader OECD average. The combined G7 GDP growth slowed to 0.3% in the second quarter, down from 0.4% in the first. Germany and Italy each grew by 0.2%, while Japan’s economy expanded by 0.3%. The United Kingdom and the United States both saw quarterly growth of 0.4%. Canada’s economy accelerated to 0.8% after no growth in the previous quarter, whereas France returned to 0.2% growth following a 0.1% contraction.
G7 growth decelerates as Canada accelerates
The slowdown among five G7 economies reflected weaker activity across several key components of economic output. In Japan, private consumption was stagnant, inventories decreased, and investment declined. The United Kingdom experienced softer private consumption and lower government spending. In the United States, a slowdown was driven by weaker export growth, reductions in inventories, and decreased government expenditure. As a result, the overall G7 expansion eased despite the OECD area showing a slightly quicker pace of growth.
The starkest contrast was observed in Canada and France. Canada’s economy shifted from zero growth in Q1 to an increase of 0.8% in Q2. Meanwhile, France reversed a 0.1% contraction in the first quarter and expanded by 0.2%. Elsewhere, Ireland and Israel recorded significantly stronger quarterly gains than other OECD countries. The three economies with flat GDP were Austria, Belgium, and Chile.
OECD annual growth improves to 2.3%
On a year-over-year basis, the second-quarter figures indicate a broader acceleration across the OECD. GDP was 2.3% higher than in the same quarter of 2025, compared to 1.7% annual growth in Q1. Among G7 nations, the United States achieved the strongest yearly growth rate at 2.1%, while Japan’s expansion was the lowest at 0.5%. The annual comparison provides a different perspective from the quarter-on-quarter changes, offering insight into overall economic momentum.
The OECD described the second-quarter estimates as provisional. The report covers 30 member countries for which GDP data was available at the time of publication. The organization has scheduled its next quarterly GDP release for November 19, 2026. The August figures remain the latest comprehensive measure of second-quarter growth among the member economies, showing a faster overall expansion amid slower aggregate growth within the G7 group.