Highlight the effects of the recession of 1930 on the German economy
1. The German economy was the worst hit by the economic crises. By 1932, industrial production was reduced to 40% of the 1929 level.
2. Workers lost their jobs or were paid reduced wages.
3. The number of unemployed touched an unprecedented 6 million.
4. On the streets of Germany we could see men with placards around their necks saying, ‘willing to do any work’.
5. The economic crises created deep anxieties and fear in People. The middle classes, especially salaried employees and pensioners, saw their savings diminish when the currency lost its value.
6. Small businessmen, the self employed and retailers suffered as their businesses got ruined
