That is a vastly oversimplified story. Germany actually did really good after WW1 until the Government escalated the inflation in a deliberate attempted to get a better deal. When they got that deal they again grew really well under the economic leadership of some smart economists.
Then the Great Depression hit and Germany, wanting to stay on gold, got hit really hard. By 1934-1935 they overcame the shock and Hitler earns the credit.
Fantastic book on this stuff:
- The Deluge: The Great War, America and the Remaking of the Global Order, 1916-1931
Germany actually was on the road to economic recovery when the Great Depression hit.