The Dutch economy grew 2.5 percent in 2018, less than the decade-high rate of 2.9 percent the previous year, Statistics Netherlands (CBS) announced on Thursday.

Growth picked up after a particular slowdown in the third quarter of last year. On a quarterly basis, the economy grew by 0.5 percent in the fourth quarter, compared to the third quarter.

The economic growth rate of 2.9 percent in 2017 was the highest in 10 years. The last time the growth figure was higher than in 2017 was in 2007, when it was 3.7 percent.

Growth in 2018 was mainly driven by consumption and investments. Dutch consumers spent 2.5 percent more than in 2017, especially on cars and electrical appliances. The trade balance also contributed positively, but less strongly than in 2017.

The CBS announced the figures on the basis of currently available data. Later this year the figures are expected to be adjusted as more data become available.