Dutch spending increases in 2018

The Dutch economy grew 2.5 percent in 2018, less than the decade-high rate of 2.9 percent the previous year, Statistics Netherlands announced. Growth picked up after a slowdown in the third quarter of last year. On a quarterly basis, the economy grew by 0.5 percent in the fourth quarter. The 2.9 percent economic growth rate in 2017 was the highest in 10 years. 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.