Why was the German economy affected the worst by the economic crisis?
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The German economy was the worst hit by the economic crisis caused by the Great Economic Depression (1929-1932) in the USA. German investments and industrial was largely dependent on loan from the USA. ... (i) By 1932, industrial production was reduced to 40 per cent of the 1929 level.
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Economy Minister Peter Altmaier said in Berlin.
"We will experience the worst recession in the history of the federal republic" founded in 1949, Altmaier said.If the government's projection is confirmed, 2020 will mark the biggest contraction since federal statistics authority Destatis began keeping records in 1970.
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