The coronavirus outbreak has changed the way people used to live. Some amendments have been accepted without hesitation, while others, e.g., wearing a facemask are still rejected by many people. However, as it turns out, medical facial masks are more vital than it might seem at first glance. Goldman Sachs has recently unveiled new research stating that a national mask mandate will slow the growth rate of new coronavirus cases and prevent an economic slowdown caused by lockdown measures.
Curiously enough, this research was backed by data received from the mask manufacturers and then by the owners of other large enterprises. Wearing a face covering has allowed to slow down the rate of spread of the coronavirus significantly, which led to the reopening of many enterprises. In the United States alone, mask mandate helped reduced the daily growth rate of the new COVID-19 cases to 0.6% from 1.6%. Economists say that without wearing masks, such results could be reached only by shutting down most of the factories. Subsequently, it would lead to a 5% drop in GDP. Analysts at Goldman Sachs believe that the US economy still has all chances for quick recovery. What is more, economists at Morgan Stanley are confident that after a short-term decline, the economy will expand by 3% in the first quarter of 2021.
However, some market experts fear that a second wave of the coronavirus may simply wash away all the improvements achieved during recent months. If a vaccine is not developed, a lot of countries will be forced to re-introduce quarantine restrictions to curb the virus spread.
