PARIS / RankWire.AI / – In the second quarter of 2026, the GDP of OECD countries showed a modest increase, climbing 0.5% from the previous quarter. After a 0.4% growth in the first quarter, preliminary data released on August 24 indicate that 27 of the 30 countries with available data expanded during this period. The remaining three economies experienced no change in their GDP levels.
These latest figures reveal widespread growth across the OECD, though growth rates differed significantly among member nations. Ireland led with the fastest quarter-on-quarter increase at 3.9%, followed by Israel at 3.6%. Austria, Belgium, and Chile saw their outputs remain unchanged in the quarter. Additionally, the regional performance was stronger on an annual basis, with OECD GDP exceeding its level from a year earlier by 2.3%. This compares to a 1.7% annual growth rate in the first quarter.
G7 economies underperformed relative to the broader OECD results. The combined GDP growth of the G7 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 reached 0.3%. The United Kingdom and the United States both recorded quarterly growth of 0.4%. Canada accelerated to 0.8% after experiencing 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 resulted from weaker performance across several key components of output. In Japan, private consumption stagnated, inventories declined, and investment fell. The United Kingdom experienced weaker private and government consumption. Meanwhile, in the United States, slower export growth, inventory reductions, and decreased government spending contributed to a slower quarterly expansion. Overall, G7 growth eased even as the broader OECD region saw a slightly faster pace.
This contrast was most pronounced in Canada and France. Canada’s economy shifted from zero growth in the first quarter to 0.8% in the second. France reversed a 0.1% contraction in the first quarter and grew by 0.2%. Elsewhere, Ireland and Israel posted much stronger quarterly gains than other nations in the available OECD sample. The three economies with flat GDP were Austria, Belgium, and Chile.
Annual OECD expansion increases to 2.3%
On an annual basis, second-quarter data demonstrated a broader acceleration across the OECD. GDP was 2.3% higher than in the same quarter of 2025, compared to 1.7% growth recorded in the first quarter. Among G7 countries, the United States experienced the strongest annual growth rate at 2.1%, while Japan’s year-on-year expansion was the weakest at 0.5%. This annual comparison provides a different perspective from quarter-on-quarter changes in economic output.
The OECD classified the second-quarter estimates as provisional. The report included 30 member nations for which second-quarter GDP data were available at the time of publication. The organization plans to release its next quarterly GDP report on November 19, 2026. The August figures remain its most recent consolidated measure of second-quarter growth among the member economies, showing a faster overall expansion but slower aggregate growth within the G7.