Between 1923 and 1929, factory production increased 32% in the United States. It was due to the demand for the new commercial products and eventually, the demand stopped but the supply didn't. People bought new appliances and products on credit until there was nothing left to buy. Stores built up huge inventories and stopped ordering from factories, who kept producing and were losing money. They had to make drastic cutbacks, where many people had lower wages or lost their jobs entirely. With the stock market crash, many people lost all of their savings too, and it lowered the demand even more.
The agriculture industry suffered a similar crash like the factories did, but it happened years in advance. Since WWI, farmers had been overproducing because they government was not helping them like they did during the war. They were producing goods for the war effort and when the war was over, they kept producing even though it wasn't necessary. Farmers were 25% of the workforce in the 1920's and the prices for their products fell dramatically and they couldn't afford to live on their farms anymore. For years they struggled to get by with their massive debt and they missed payments on their loans, which weakened banks and many failed. The farm overproduction was the earliest sign that the Great Depression was coming.
The agriculture industry suffered a similar crash like the factories did, but it happened years in advance. Since WWI, farmers had been overproducing because they government was not helping them like they did during the war. They were producing goods for the war effort and when the war was over, they kept producing even though it wasn't necessary. Farmers were 25% of the workforce in the 1920's and the prices for their products fell dramatically and they couldn't afford to live on their farms anymore. For years they struggled to get by with their massive debt and they missed payments on their loans, which weakened banks and many failed. The farm overproduction was the earliest sign that the Great Depression was coming.