Business

Friday’s business headlines

INDIANAPOLIS (WISH) – Here’s a look at Friday’s business headlines.

White House

The White House is preparing an executive order which will require certain essential drugs be made in the U.S.

CNBC reports the order could come out as soon as Friday.

It will also encourage government agencies to only buy american-made medical products

Jobless claims

The poorest Americans are being hit the hardest by coronavirus-induced job losses.

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The Federal Reserve says nearly 40% of people working in February with a household income below $40,000 reported that they’d lost a job in March.

Job losses were most concentrated in leisure and hospitality.

Clothes

More than half of consumers say they’re ready to return to shopping for apparel in stores, but most will prefer to take them home to try them on.

First Insight, a digital product testing solution for brands and retailers, found nearly two-thirds of women say they wouldn’t feel safe trying on clothes at stores.

Just 49% of the Millennials surveyed said they would not feel safe trying on clothes in dressing rooms compared to 71% of Baby Boomers.

Retail sales

A record drop in retail sales expected for April when those numbers come out Friday.

The drop is expected to be around 12%

The report is expected to show extreme weakness in apparel sales, a decline in gasoline sales and poor auto sales.

Spendinig on food likely rose.

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