As of last week, GDP originated in rising counties mortality rate Accounted for 60% of the total; still lower than the 80% recorded in winter.
source: Deutsche Bank, Covid Tracker, August 5, 2021.
source: Deutsche Bank, Covid Tracker, August 5, 2021.
These results are based on reported data as of August 4.
It is not clear what the economic impact of the high mortality rate of the new coronavirus is. If national authorities take public health measures, such as restricting indoor commercial activities, then people may see a decline in activities and output related to high-touch services. However, the reaction function varies from state to state. For example, we can see that the hospitalization rate in Florida is higher than the peak, but there is no evidence that the state government responded. Therefore, there may be no impact on the activity in the short term (although risk aversion may work, but it will reduce economic activity).
source: New node, accessed on August 9, 2021.
(The above is about short-term effects. Obviously, as some models suggest, if the death/disability rate is high enough, working hours may be significantly reduced in the long run.)
More information about Florida a few days ago (the situation is changing rapidly) here.
