GDP in the G20 area grew by 0.7% in the second quarter of 2026, slightly down from 0.8% in the previous quarter, according to provisional estimates. This reflected a mixed picture across G20 countries for which data were available, with most recording a slowdown. 

Among G20 economies with available data, the contraction in Saudi Arabia deepened, with GDP falling by 4.8% in Q2 2026, following a 1.4% decline in Q1. This mainly reflected a sharp decrease in oil activities GDP also contracted in South Africa, by 0.2% in Q2, after growing by 0.4% in Q1. In Korea, GDP growth slowed markedly, from 1.8% in Q1 to 0.6% in Q2, primarily reflecting weaker growth in exports and private consumption. Growth also slowed in Brazil, from 1.1% to 0.5%, China, from 1.3% to 0.9%, and India, from 2.1% to 1.8%. More moderate slowdowns were recorded in Japan, the United Kingdom and the United States, to 0.4% in each country, and in Germany and Italy, to 0.3% and 0.2%, respectively.

By contrast, growth rebounded strongly in Mexico, with GDP increasing by 1.4% in Q2 after contracting by 0.3% in Q1, and remained strong in Indonesia, at 1.3%. Growth also strengthened in Türkiye, from 0.3% to 1.1%, and in Canada, from 0.1% to 0.8%, while it picked up slightly in Australia, from 0.3% to 0.4%. In France, GDP was unchanged in Q2, following a contraction of 0.2% in Q1. 

Compared with the same quarter of the previous year, GDP in the G20 area was 3.1% higher in Q2 2026. Among G20 economies with available data, India recorded the highest year-on-year growth, at 8.1%, followed by Indonesia at 5.3% and China at 4.3%. By contrast, GDP contracted by 4.3% in Saudi Arabia.