The most obvious consequence of this collapse was a huge rise in unemployment. By the time Hitler became Chancellor in January 1933 one in three Germans were unemployed, with the figure hitting 6.1 million. … Industrial production had also more than halved over the same period.
How did the great economic depression affect Germany?
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.
What was the economic depression in Germany?
In 1929 as the Wall Street Crash led to a worldwide depression. Germany suffered more than any other nation as a result of the recall of US loans, which caused its economy to collapse. Unemployment rocketed, poverty soared and Germans became desperate.
What was the impact of economic crisis in Germany?
(i) The Germany’s economy was worst hit by economic crisis. (ii) Industrial production was reduced to 40 per cent. (iii) Workers lost their jobs and the number of unemployed reached six million. (iv) On the streets of Germany, men could be found with placards saying, “Willing to do any work”.
Why was Germany so badly affected by the Great Depression?
Germany was, indeed, especially hard-hit by the Great Depression. A major factor was the Treaty of Versailles, which was supposed to settle outstanding disputes following the cessation of hostilities in World War I. … Germany reeled from the huge burden of reparations payments required of it as a condition of the treaty.