Very much so, before the Great Depression the NSDAP was a small party. Only during the extrem condition of the Great Depression it was possible for a party like NSDAP to get so many votes. Look at this:

May 1928: 2.4%

September 1930: 18.3%

July 1932: 37.3%

The German economy had recovered from the troubled times after WW1 and was on a good path by 1928. The NSDAP was a smallish party in a group of rightist party with little indication that such a party could actually take over Germany. The Great Depression changed everything.