Definition, Meaning & Synonyms
economic-boom
noun
/ˌɛkəˈnɑːmɪk buːm/
Definition
A significant increase in economic activity and growth, characterized by rising GDP, employment, and consumer spending.
Examples
- The country experienced an economic boom during the technology surge of the late 1990s.
- Many businesses expanded their operations and hired more employees, thanks to the economic boom.
- The real estate market flourished as property values soared during the economic boom.
Meaning
An economic boom represents a period of rapid economic growth, where production increases and businesses thrive.
Synonyms
- prosperity
- upswing
- expansion
- growth
- surge
