The economy grew at an annualized rate of 6.4 percent in the first quarter of 2021, according to Commerce Department data released Thursday.

The figure is up from 4.3 percent in the previous quarter and an early indication that the economy could reach annual growth levels this year not seen since the 1980s.

It was the largest first-quarter increase since 1984.

Personal income, which had dropped $351.4 billion, or 6.9 percent in the previous quarter, increased a whopping $2.4 trillion, a surge of 59 percent.

Personal consumption pushed up at an annual rate of 10.7 percent, with goods up 23.6 percent and durable goods up 41.4 percent.

Many Americans appear to have saved their stimulus income as well. Personal savings shot up an astonishing $4.12 trillion in the first quarter, nearly double the $2.25 trillion in the fourth quarter.

Read more at The Hill.