How was the Great Economic Depression of 1929-1932 destroyed German economy?
1. The German economy was the worst hit by the economic crises. By 1932, industrial production was reduced to 40 percent 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 you could see men with placards around their neck saying, “willing to work”. Unemployment youths play cards and simply sat at street corners, or destroyed queued up at the local employment exchange.
5. The middle classes, especially salaried employees and pensioners, saw their savings diminish when the currency lost its value.
