What contributed to the economic recovery in Western countries at the beginning of the 20th century?

Before the First World War, the economies of many European countries reached their maximum production capacity. The reason for this was the establishment of an industrial type of society in these countries. Engines and other scientific developments were already created, which made it possible to increase the pace of production. At the same time, Europe used raw materials and markets for the colonial countries captured in the early periods. The colonies allowed the development of agriculture and industry. In Western countries, the economy was focused on the production of goods.