The above chart shows the year to year percentage change in GDP. For the years 1929 to 1933 we see a contraction, but then strong growth ensures -- 10.9% in 1934, 8.9% in 1935 and 13% in 1936. 1937 shows a decrease in the rate of growth to 5.1% -- which is still good. 1938 shows a slight contraction followed by a rise of 8.1% in 1939. What this chart demonstrates very clearly is growth did occur in the later half of the decade -- and the growth was of strong rates.
The early years of the Depression saw a strong drop in personal consumption expenditures with annual drops in the 5%-9% range. However, by 19323 the rate of annual decline was slowing and the years 1934-1937 saw good year to year growth.
The above chart shows the year to year percentage change in gross private domestic investment. Notice the collapse from 1929-1933 with terrible annual drops of 33%, 37% and 69%. That represents a near collapse. However, the years 1933-1937 show a strong rebound. Part of that is due to the low readings of 1933. But that only holds up for the first few years of the rebound; for by 1937 total inflation-adjusted domestic investment was at its 1929 level, meaning the rebound was complete.
Finally, notice the year to year percentage change in government spending was on a clear downward trajectory for the years 1930-1934. There were increases from 1934-1936; two of those years showed large increases, but one year showed only a slight increase. Also remember the middle years of the Depression is when GDP started increasing at s
