Describe the impact of Economic Depression of 1929-32 on Germany.
Answers
Answer:
Great Depression led to economic crises in Germany. By 1932, industrial production was reduced to 40 percent of the 1929 level. As a result, jobs were cut and many workers became unemployed. ... The savings of the middle class and salaried employees reduced drastically due to the depreciation of the German currency.
Explanation:
Great Depression led to economic crises in Germany. By 1932, industrial production was reduced to 40 percent of the 1929 level. As a result, jobs were cut and many workers became unemployed. ... The savings of the middle class and salaried employees reduced drastically due to the depreciation of the German currency.
The Great Depression was particularly severe in Germany, which had enjoyed five years of artificial prosperity, propped up by American loans and goodwill. Unemployment hit millions of Germans, as companies shut down or downsized. Others lost their savings as banks folded.
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