(RTTNews) - MNI Indicators released a report on Tuesday unexpectedly showing a continued slowdown in the pace of growth in Chicago-area business activity in the month of April. "This was a disappointing start to the second quarter, with more firms cutting back on both production and employment against a backdrop of softer domestic demand and the global slowdown," said Shaily Mittal, Senior Economist at MNI. On the inflation front, the report said factory gate prices saw the biggest monthly drop since December of 2008, taking the indicator to its lowest level since March of 2016.