Fed Beige Book finds slower growth in four regions (by Greg Robb)

WASHINGTON (MarketWatch) -- The Federal Reserve's latest survey of economic conditions throughout the country found slower growth in many regions. Fed banks in Philadelphia, Atlanta, New York and Chicago all reported a downshift in activity. Only the Dallas Fed reported accelerated growth. Consumer spending was seen as mixed, while manufacturers expressed less confidence about the outlook. Labor markets were seen as still improving at a gradual pace. Firms in most regions were having trouble passing along higher commodity prices to their customers. The market for rental properties was the one bright spot in the housing sector. Agriculture was hit hard by recent storms. There were some reports that banks were easing standards for loans. The impact from the Japanese earthquake was seen as concentrated in auto production.