Definition, Meaning & Synonyms
booming economy
noun
/ˈbuːmɪŋ ɪˈkɒnəmi/
Definition
A booming economy refers to a period of rapid economic growth characterized by increasing productivity, high consumer confidence, and rising employment rates.
Examples
- The city experienced a booming economy after the tech industry expanded.
- Tourism contributed significantly to the booming economy of the island.
- Government policies aimed at stimulating growth can lead to a booming economy.
Meaning
In a booming economy, businesses tend to thrive, investments increase, and there is generally a significant rise in the overall economic output of a country or region.
Synonyms
- Thriving economy
- Flourishing economy
- Expanding economy
- Robust economy
