The number of bankruptcies in the Netherlands last month hit its lowest point in eight years, according to national statistics office, the CBS.

In August, 282 companies failed, which was 88 fewer than in July and the lowest monthly total since October 2008. Bankruptcies have shown a pattern of general decline since a peak in May 2013, and the first eight months of 2016 had almost a fifth fewer than the same period last year.

Most companies that went out of business in August, the CBS said on Friday, were traders and financial services.