Economic growth across the Organisation for Economic Co-operation and Development (OECD) area edged up to 0.5% in the second quarter of 2026, compared with 0.4% in the previous quarter, according to estimates released Monday by the organisation.

The figure reflects contrasting performances among the 30 OECD countries for which data were available. Twenty-seven countries recorded economic growth in the second quarter, albeit at varying rates, while three reported no change in GDP.

Growth slows across the G7

In the G7 economies, GDP growth slowed to 0.3% in the second quarter, down from 0.4% in the previous quarter. Growth weakened in five G7 countries.

In Germany, growth slowed from 0.4% to 0.2%, while Italy’s growth eased from 0.3% to 0.2%. Japan’s growth declined from 0.5% to 0.3%, while the United Kingdom slowed from 0.6% to 0.4%. In the United States, GDP growth decreased from 0.5% to 0.4%.

In Japan, the slowdown was mainly attributed to stagnant private consumption, destocking and declining investment, according to the OECD. In the United Kingdom, weaker private consumption and lower government consumption weighed on economic activity.

In the United States, slower export growth, destocking and a decline in government consumption contributed to the slowdown.

Canada and France return to growth

Canada, meanwhile, recorded a significant acceleration, with GDP growth rising from zero in the first quarter to 0.8% in the second quarter.

In France, GDP returned to growth, expanding by 0.2% in Q2, after contracting by 0.1% in the previous quarter.

Among the other OECD countries for which data were available, Ireland recorded the strongest quarter-on-quarter GDP growth in Q2, at 3.9%.

At the other end of the scale, GDP remained unchanged in Austria, Belgium and Chile.

Annual OECD growth reaches 2.3%

On a year-on-year basis, GDP growth across the OECD area reached 2.3% in the second quarter of 2026, up from 1.7% in the first quarter.

Among G7 economies, the United States recorded the strongest annual GDP growth, at 2.1%, while Japan posted the weakest, at 0.5%.