US economic growth has slowed in recent weeks due to ongoing troubles in the housing and labor markets, a report from the Federal Reserve recently suggested. "Economic activity continued to grow; however, the pace has moderated in many districts," the Fed said in its influential Beige Book. Earlier, figures showed new orders for US big manufactured goods fell in June. It's different in some South American countries where unemployment is low and business is booming. Steven Bodzin reports from Chile.