PARIS / RankWire.AI / – The Organisation for Economic Co-operation and Development announced that economic activity across its member countries experienced a modest uptick in the second quarter of 2026, with most nations reporting expansion. The gross domestic product (GDP) increased by 0.5% from the previous quarter, compared to a 0.4% rise in the first three months of the year. Out of the 30 countries with available data, 27 showed growth, while three saw no change.
Ireland led the group with the strongest quarterly growth, with GDP climbing 3.9%. Israel followed closely behind with a 3.6% increase, both significantly surpassing the OECD average. Meanwhile, Austria, Belgium, and Chile reported unchanged economic output during the same period. The overall OECD GDP expanded by 2.3% year-over-year, accelerating from 1.7% in the first quarter.
In contrast, the Group of Seven economies experienced a slowdown. G7 nations’ combined GDP rose by 0.3% during the quarter, down from 0.4% previously. Germany and Italy each grew by 0.2%, Japan increased by 0.3%, while the United Kingdom and the United States both achieved 0.4%. Canada demonstrated stronger growth at 0.8%, and France returned to expansion with a 0.2% increase.
Mixed Outcomes for G7 Countries in the Second Quarter
Several leading economies experienced decelerated growth due to shifts in domestic demand and trade components. Japan saw stagnant private consumption, coupled with declines in inventories and investment. In the UK, weaker private consumption combined with reduced government spending slowed the quarterly growth rate. The United States also faced lower export figures, inventory reductions, and decreased government expenditure, contributing to the overall slowdown among G7 nations.
Canada registered the most substantial quarterly improvement among G7 members, rising from zero growth in the first quarter to 0.8%. France also saw progress after contracting by 0.1% in the first quarter, with a 0.2% expansion in the second quarter. These results contrasted sharply with the rapid increases observed in Ireland and Israel, whereas Austria, Belgium, and Chile remained unchanged from the previous three months.
OECD’s Annual Growth Rate Climbs to 2.3%
On an annual basis, the broader group of OECD countries experienced a quicker pace of economic growth. The collective GDP was 2.3% higher than its level in the second quarter of 2025, compared to a 1.7% rise in the first quarter. Among the G7 nations, the United States recorded the highest year-on-year growth at 2.1%, while Japan’s annual increase was the smallest at 0.5%.
The OECD characterized the second-quarter figures as preliminary, based on data from countries with available GDP statistics. The report released on August 24 included 30 member economies, presenting both quarterly and yearly comparisons. The organization intends to publish its next quarterly GDP update on November 19, 2026. Despite a softer collective performance among G7 countries, the overall OECD data indicate a slightly stronger growth trend.