Non-oil GDP: +1.8% yoy sa (-0.2% mom sa). 20 July 2026 | 7:47PM EDT Economics Research Ecuador: Soft Economic Activity in May Bottom Line: Real GDP, as measured by the IMAEc monthly activity indicator, increased by 1.6% yoy sa (1.1% yoy) in May. The increase was driven by a 1.8% yoy sa expansion in non-oil activity as oil activity declined by 2.1% yoy sa. Sequentially, real GDP declined by 0.3% mom sa in May, driven by 0.2% mom sa weaker activity in the non-oil sector and a 4.8% mom sa expansion of oil-GDP. ...