Economic growth in industrialised economies rose slightly in the second quarter of 2026.
OECD data released this week shows that Gross Domestic Product (GDP) rose in 27 countries and was stable in another three.
Provisional estimates showed growth was at 0.5 percent in the quarter, up from 0.4 percent in the previous quarter.
Year-on-year GDP growth in the OECD increased to 2.3 percent in Q2 2026, up from 1.7 percent in Q1.
Despite the overall growth in Q2, the large economies who make up the G7 slowed to 0.3 percent quarter-on-quarter growth in quarter two, down from 0.4 percent in Q1.
This reflected slower growth in five G7 countries – Germany, from 0.4 percent to 0.2 percent, Italy, from 0.3 percent to 0.2 percent, Japan, from 0.5 percent to 0.3 percent, the United Kingdom, from 0.6 percent to 0.4 percent, and the United States, from 0.5 percent to 0.4 percent.
“In Japan, the slowdown mainly reflected stagnant private consumption, destocking and a decline in investment,” the OECD said in a statement.
“In the UK, weaker private consumption and a decline in government consumption weighed on economic activity.
“In the United States, slower growth mainly reflected weaker export growth, destocking and a decrease in government consumption.”
This was contrasted with Canada lifting from zero in Q1 to 0.8 percent in Q2, France from negative growth of 0.1 percent in Q1 to growth of 0.2 percent in Q2.
