Wearing masks could help the economy
BISMARCK, N.D. (KFYR) -Doctors say the use of face masks would lower the growth rate of new confirmed cases of Covid-19.
Goldman Sachs reports wearing masks could also save the U.S. economy from taking a forecasted hit.
As certain states encounter a surge in confirmed coronavirus cases, the potential of further lockdowns are becoming a reality.
However, some states are now enforcing mandatory mask mandates, which Goldman Sachs says could be the key to a positive economic outcome.
Kansas now the latest state to require face masks while out in public.
Following other states that have already made the call.
"We know that masks really do decrease the transmission of coronavirus. This has been shown in many many population studies. There's a lot of things out there that dispute this, but it's become a scientific fact," said Interim Chief Medical Officer at Sanford Health Danielle Thurtle.
New COVID spikes have prompted some states to enforce restrictions yet again on some high contact businesses.
Reclosing and further lockdowns could cause U.S. GDP to suffer.
“Restrictions on the economy as far as lockdowns, restricts the flow of money. The internet has been great for those that are set up to have internet commerce. But, your brick and mortar businesses-- they’re the ones that suffer. If they’re not on the internet, their economy is drawn down dramatically. So, it still effects the GDP with any kind of lockdown that’s put into place,” said Heartland Investor Services’ Eugene Graner.
A Goldman Sachs study found that if mask mandates lower coronavirus infections and prevent lockdowns, they could save the U.S. economy from taking a 5% hit to GDP.
Market experts say North Dakota is proof that lower COVID counts help the economy.
"Our hospital numbers are down significantly from what everybody thought they were going to be. And, our daily counts continue to be minimal. And so, unlike Texas and Florida, the North Dakota economy is moving forward. Other states are struggling because they're fearful that a bar might get a phone call that he's going to have to close by noon. Here in North Dakota that's not the case," Graner said.
Goldman found that a national mandate to wear face masks could raise the percentage of Americans who wear masks by 15 percent.
Goldman Sachs' research found that nationwide mask mandates could slash the daily growth rate of confirmed coronavirus cases from 1 percentage point to 0.6%.
This, in turn could lead to a healthier U.S. economy.
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