jan 1, 1929 - Weimar economy up to 1929

Description:

Strengths:
-1924 to 1929 was a period of monetary stability as a result of the Dawes Plan, and there was a significant influx of foreign capital of 25.5bn marks. Foreign investors, especially Americans, were attracted to Germany for its high interest rates
-1928, production levels exceeded those of 1913
-There was a 40% increase in export rates from 1925 to 1929
-Triple output of blast furnaces
-Large scale production of artificial fertilisers

Weaknesses:
-Economy only grew by 4% between 1913 and 1929 compared to 70% in US
-Unemployment was never below 1.3m and was 3m February 1929 (14% of the workforce). However, this was a success compared to the 1930s
-By 1927, coal was at 79% of pre-1913 levels, pig iron at 68%, and steel at 86%
-Cars were too expensive for the average German
-Balance of payments
-Late 1920s, per capita income in agriculture was 44% below national average
-Relied on foreign credit
-Population was 'living beyond its needs'

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