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The state of São Paulo recorded GDP growth above the national average this year, standing out as the country's economic engine and attracting strategic investments.
O GDP of Sao Paulo recorded growth of 3,5% between January and September 2024, compared to the same period last year.
The data was released by State Data Analysis System (Seade) and reveal a performance above the national average, which reached 3,1% in the accumulated four quarters, as announced today by IBGE.
The expansion was driven mainly by the industry and services sectors, both with a 3,2% increase. Governor Tarcísio de Freitas (Republicans) highlighted the role of public policies focused on entrepreneurship and investments.
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“The significant expansion of São Paulo’s GDP this year brings us great happiness. It is a reflection of everything we are doing to boost investments in our state, with attractive tax policies, the creation of formal jobs and the strengthening of entrepreneurship. It is growth on top of growth,” he said.
September results show consistent progress
In September 2024, São Paulo's GDP grew 0,8% compared to the previous month, already considering seasonal adjustments. Industry led with an increase of 1,9%, while the services sector rose 0,3%.
Compared to the same month in 2023, growth was 3,8%. In this analysis, all sectors had positive results: services (3,8%), industry (3,4%) and agriculture (0,3%).
These data indicate a consistent recovery, reinforced by the good performance of the industry, which has been essential for maintaining the state's economic growth trajectory.
12-month accumulated result is also positive
When looking at the accumulated total over the last 12 months, São Paulo's GDP grew 2,7% compared to the previous 12 months. In this period, services grew 2,6%, while industry grew 2,5%.
Agriculture, although it had a more timid performance in September, contributed to general stability.
Experts attribute the good performance to the more favorable local economic scenario, with policies that stimulate private investment and consumption. The state's economic diversification has also been a differentiator, ensuring greater resilience in the face of national fluctuations.
Growth above the national average reinforces São Paulo's position as the main driver of the Brazilian economy. With policies aimed at attracting investment and strengthening industry and services, the state is consolidating its economic leadership.
If there is security for people and companies, both São Paulo and the country can expand again without destroying the environment. But if security ends, everything ends!
It should be a country.