The U.S. economy snapped back in the first quarter, growing at an annual rate of 4.8%, the fastest growth in more than two years, the Commerce Department said Friday. The increase in the nation's real gross domestic product was close to expectations of a gain of 4.9%. The economy has grown 3.5% in the past four quarters. The improvement was widespread. Business investment increased at a 14.3% rate, the fastest in six years. Consumer spending increased 5.5%, the most since 2003, led by a rebound in auto sales. Final sales increased 5.4%. The core consumer price index retreated to a 2% annual rate from 2.4%, pushing the year-over-year gain down to 1.9%