PARIS / RankWire.AI / – In the second quarter of 2026, economic activity across the OECD region experienced a modest uptick as the majority of member countries that provided data registered growth. The gross domestic product (GDP) increased by 0.5% compared to the previous quarter, a slight improvement over the 0.4% growth seen in the first three months. According to the Organisation for Economic Co-operation and Development, 27 out of 30 countries with available data showed signs of expansion, while three nations reported no quarterly change.
Among these, Ireland experienced the most significant quarterly rise with GDP climbing 3.9%, followed closely by Israel with a growth rate of 3.6%, both considerably above the average for the OECD as a whole. Meanwhile, Austria, Belgium, and Chile saw their economic output remain unchanged during this period. On an annual basis, the OECD’s GDP rose by 2.3%, accelerating from an increase of 1.7% in the first quarter.
Conversely, the growth trajectory for the Group of Seven (G7) economies moved in an opposite direction. The combined G7 GDP grew by only 0.3% in the second quarter, which is a slowdown from the 0.4% expansion recorded previously. Germany and Italy each grew by 0.2%, Japan by 0.3%, and both the United Kingdom and the United States experienced growth of 0.4%. Canada outperformed with a 0.8% increase, and France returned to positive growth, expanding by 0.2% after a contraction in the first quarter.
Mixed second-quarter outcomes for G7 economies
Several of the major economies reported slower growth, driven by shifts in domestic demand and trade components during the quarter. Japan’s private consumption remained flat, while inventories and investment declined. In the United Kingdom, weaker private consumption coupled with reduced government spending weighed down the quarterly growth rate. The United States also experienced dampened export figures, inventory reductions, and lower government expenditure, leading to slower overall growth across the G7 group.
Canada posted the most notable quarterly increase among G7 nations, jumping from zero growth in Q1 to 0.8%. France also saw an improvement after contracting 0.1% in the first quarter, with its economy expanding by 0.2% during the second quarter. These results stood in contrast to the much faster growth rates seen in Ireland and Israel, while Austria, Belgium, and Chile showed no change from the previous three months.
OECD-wide annual growth reaches 2.3%
On an annual basis, the broader group of OECD member countries experienced a quicker pace of economic expansion, with GDP now 2.3% higher than in the second quarter of 2025, compared to a 1.7% increase in the first quarter. The United States led the G7 in annual growth, recording a rate of 2.1%, while Japan posted the lowest at 0.5%.
The OECD characterized its second-quarter estimates as provisional, based on a consolidated calculation that includes countries with available GDP data. The August 24 report covered 30 member economies and offered both quarterly and yearly comparisons. The organization is scheduled to release its next quarterly GDP update on November 19, 2026. Despite a somewhat softer performance among the G7, the data indicate slightly stronger growth across the entire OECD area.