The U.S. economy grew at an annual rate of 8.2% in the third quarter — the best result in almost 20 years.

The U.S. Commerce Department said the big growth in the July-September quarter was boosted by was consumer spending. The figures released Tuesday confirmed a preliminary estimate issued last month.

The last time the U.S. saw growth so strong was back in the fourth quarter of 1983, when GDP expanded by 8.4%.

Tax cuts and low interest rates are widely credited as the reason for the U.S. economy’s big improvement from the 2% rate seen in the first quarter and the second quarter’s 3.1%.

The Commerce Department also revised its measure of after-tax profits to 10.1%, down from an earlier reading of 10.6%.

In a separate monthly reading, the Commerce Department said consumer spending rose 0.4% in November, while personal income climbed 0.5%, the biggest jump in six months. Economists had expected a 0.7% rise in spending and a 0.4% increase in income.