One reason the Depression of 1929 was so severe in the United States was that the economy had become primarily industrial and most Americans were affected by business variations.
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<u>The great depression in the United States started in the year 1929 with the Wall Street crash and this crash marked the beginning of a decade of poverty, Economic crises, Unemployment, Lost in economic growth throughout the United States</u>. Industries were the ones which suffered the most during this period as most of the shipping, Mining and agriculture sector reduced spending because of loss of economy and that led to a reduction of production and falling confidence. The automobile sector was also among the sectors that were hit hard from this crisis and some automobile industries even had to shut down.
<u>One of the major causes of this great depression was that the majority of people in the United States belonged to the Industrial sector and that was the sector which was hit worst</u>. Most of the Americans were affected by business variations because f their one business was going on loss, they used to shift to another business but the result remained the same. Banks also contributed to this period of recession as close to a thousand banks throughout the United States were closed down or suspended during this period.
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Answer details:
Grade – High School
Subject – History
Chapter – The Great Depression
Keywords – The Great Depression, industry, Recession, United States, Economy, Decline, Automobile, Agriculture, Banking Sector, Mining, Shipping, Infrastructure.