First off, Industries overproduced goods, and even though consumers bought some, tons of unused stock was lying around. Businesses also allowed Credit, which at the time, was excellent to make a booming economy nearly overnight, however, people bought beyond their means. So people purchased goods they couldn't truly afford, and when they stopped being able to make the payments, it was either take back the goods purchased but not fully paid for, or not take the full payment. these issues slowed the economy down.
