PARIS / RankWire.AI / – In their latest update, provisional data from the Organisation for Economic Co-operation and Development revealed that during the second quarter of 2026, economic activity across OECD member states grew modestly, with gross domestic product (GDP) expanding by 0.5% compared to the previous quarter. This marks an increase from the 0.4% growth recorded in the first quarter, as reported on August 24. Out of the 30 countries with available data, 27 experienced economic growth, while the remaining three showed no change in their GDP figures.
The data indicates a widespread expansion throughout the OECD, though growth rates vary significantly among member nations. Ireland led with the highest quarter-on-quarter increase at 3.9%, followed by Israel at 3.6%. Conversely, Austria, Belgium, and Chile saw their output remain unchanged during this period. The quarterly figures also suggest a stronger annual performance, with OECD GDP being 2.3% higher than the same quarter a year earlier. This compares to an annual growth rate of 1.7% observed in the first quarter.
The G7 economies performed somewhat weaker than the broader OECD aggregate. 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 saw quarterly growth of 0.4%. Canada experienced a notable acceleration to 0.8% after no growth was recorded in the prior quarter, whereas France rebounded from a 0.1% contraction to achieve 0.2% growth.
Growth among G7 nations slows down as Canada picks up pace
The deceleration within five G7 economies mainly reflected diminished activity in key sectors. Japan experienced stagnant private consumption, declining inventories, and lower investment levels. The United Kingdom faced weaker private and government consumption. Meanwhile, in the United States, slower export growth, inventory reductions, and reduced government expenditure contributed to the subdued quarter. Despite this slowdown, the broader OECD region saw slightly faster growth overall.
The most notable contrasts appeared in Canada and France. Canada’s economy shifted from zero growth in the first quarter to an expansion of 0.8% in the second. France reversed a 0.1% contraction in the first quarter and grew by 0.2%. Other countries, like Ireland and Israel, experienced significantly stronger quarterly gains compared to the rest of the OECD sample. The three nations with flat GDP figures were Austria, Belgium, and Chile.
Annual OECD growth rate rises to 2.3%
On an annual basis, the second-quarter data points to a broader acceleration across the OECD. GDP increased by 2.3% compared to the same period in 2025, up from 1.7% in the first quarter. Among G7 countries, the United States recorded the highest annual growth at 2.1%, while Japan posted the slowest at 0.5%. The annual comparison provides an additional perspective separate from the quarter-on-quarter change in economic output.
The OECD has classified these second-quarter estimates as provisional. The report covered 30 member countries, for which second-quarter GDP data was available at the time of release. The organization is scheduled to publish its next quarterly GDP growth report on November 19, 2026. As of now, the August figures remain the most recent consolidated measure of second-quarter growth among the member economies, showing a slightly faster overall expansion, despite the slower growth observed within the G7.