GDP growth in the Organisation for Economic Co-operation and Development (OECD) area increased slightly to 0.4% in the first quarter of 2026, up from 0.2% in the previous quarter, according to provisional estimates published in a press release by the OECD on 21 May 2026. The figures reflect a mixed picture across the 28 OECD countries for which data was available. Twenty countries recorded growth at varying rates, while two saw no change in GDP and six experienced a contraction. The release covers quarter-on-quarter and year-on-year developments across G7 and other OECD economies. Overall, the data points to a moderate acceleration in economic activity at the start of 2026.
The OECD compiles quarterly national accounts data to track economic performance across member states. The latest release provides provisional estimates for Q1 2026, with comparisons to Q4 2025. Domestic demand, as referenced in the release, covers private and government consumption and investment. The figures are reported in line with the OECD’s standard methodology for quarterly GDP growth. A corrigendum issued with the release clarified that Italy’s quarter-on-quarter growth in Q1 2026 was 0.2%, not 0.1% as initially published.
Among G7 countries, growth accelerated in the United Kingdom and the United States, from 0.2% and 0.1% in Q4 to 0.6% and 0.5% in Q1, respectively. The United Kingdom’s acceleration mainly reflected increases in private and government consumption, while in the United States, rebounds in government consumption and exports, alongside increased investment, supported growth. Japan’s growth rose from 0.2% in Q4 to 0.5% in Q1, and Germany’s from 0.2% to 0.3%. Canada rebounded to 0.4% after a contraction of 0.2% in the previous quarter. France recorded no growth in Q1 after expanding by 0.2% in Q4, as decreases in private consumption, investment, and exports weighed on activity.
Italy’s growth slowed from 0.3% in Q4 to 0.2% in Q1 as domestic demand decreased. Among other OECD countries for which data was available, Korea recorded the highest quarter-on-quarter growth rate in Q1 (1.7%), followed by Finland (0.9%) and Hungary and Switzerland (0.8% in both countries). In contrast, Ireland continued to show the largest contraction at -2.0%, followed by Israel and Mexico at -0.8% in both countries. The data reflects significant divergence across the OECD area. Performance varied widely between leading and lagging economies.
Year-on-year, OECD GDP growth increased slightly in Q1 compared with Q4, from 1.7% to 1.8%. Among G7 economies, the United States recorded the highest annual increase at 2.7%, while Germany recorded the lowest at 0.3%. The figures confirm a modest but uneven recovery across the OECD area. The next release is scheduled for 24 August 2026. The OECD will continue to monitor and report quarterly developments across member economies.
