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OECD and G7 economic growth trends

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2026-08-27 00:13 UTC → 2026-08-27 07:46 UTC · added ~~removed~~

In the second quarter of 2026, economic growth across OECD nations showed a slight acceleration to 0.5 percent, up from 0.4 percent in the first quarter. However, growth within G7 nations experienced a deceleration, falling from 0.4 percent to 0.3 percent. Specific G7 economies reported slowing growth rates, including Germany, Italy, Japan, the United Kingdom, and the United States. In the United States, the second estimate from the Bureau of Economic Analysis confirmed that real GDP increased at an annual rate of 1.5 percent, down from 2.1 percent in the first quarter. This deceleration was partly attributed to a 12.5 percent annual rise in imports, which acted as a drag on domestic production calculations. These imports included a high volume of computer chips and other products supporting AI infrastructure. Additionally, government spending saw a downturn during this period. Despite the slower headline growth, US consumer spending remained a significant driver, increasing at a 3.4 percent annual ~~clip.~~ clip, up from 0.5 percent in the previous quarter. Business investment also showed strength, particularly in artificial intelligence sectors, with non-housing business investment rising by 8.5 percent. Furthermore, the Atlanta Fed reported that businesses expect sales revenue to grow by 5.8 percent over the next four quarters, marking the fastest pace in over four years. Underlying economic strength was further noted by a 4.2 percent increase in real final sales to private domestic purchasers. Inflationary signals remained mixed. The Personal Consumption Expenditures (PCE) price index showed varying reports, with some indicating the annual rate remained at 3.7 percent while others noted a 5.3 percent increase. Core PCE rose by 3.6%. In July, inflation-adjusted consumer spending remained flat compared to the previous month. Other OECD members showed varying trends: Canada saw growth accelerate to 0.8 percent, while France returned to growth at 0.2 percent. ~~Ireland and Israel recorded the highest growth rates in the OECD at 3.9 percent and 3.6 percent, respectively.~~

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