Growth was driven mainly by agriculture, which grew 1.1% in the month and 4.4% in the quarter
The economy of the state of São Paulo grew 2.3% in March compared to February, according to the SEADE Foundation (State Data Analysis System). On an annual basis, the increase was 0.7%.
The result was driven mainly by agriculture. The sector grew 1.1% in the period, while industry and services grew 0.8% and 0.4%, respectively.
Last month, the state’s economic activity had slowed 1.6% on a monthly basis.
As a result, São Paulo’s Gross Domestic Product (GDP) ended the 1st quarter with an expansion of 1.9%, compared to the same period of the previous year.