Business

Thursday’s business headlines

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

Indiana tourism

Indiana’s tourism and hospitality industry suffered greatly due to the COVID-19 pandemic and a recent report by Ball State University is recommending the state help save the industry.

Patrick Tamm, the president and CEO of the Indiana Restaurant & Lodging Association, said the industry has employed roughly 13% of Hoosiers.

Some of the restaurants and hotels are trying to reopen but with significantly fewer staff.

Lowe’s

Home improvement store Lowe’s will not make its retail employees enforce mask policies.

The stores will place signs at entrances and will provide free face masks at customer service desks and the store policies will continue to reinforce social distancing guidelines by making public address announcements and adding signs.

Lowe’s face mask policy went into effect nationwide on Monday, July 20.

Kids screens

One survey of more than 3,00 parents found that screen time for their kids had increased by 500% during the pandemic.

Kids were already spending far more time than recommended with screens before the pandemic and had been for years.

Much of the time on screens is spent on TikTok, Youtube and video games.

Consumer spending

Consumer spending activity froze in mid-July as new coronavirus outbreaks drive fears of a longer-than-expected recession.

JP Morgan found credit-card data from the week ending July 18 show spending activity taking a pause.

On a more positive note, the link between decreased spending and growth in virus cases has weakened recently.

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