The Boom

The Boom describes a period of rapid economic growth marked by increasing production, employment, and consumer spending. It often follows a period of recovery or stability, driven by technological advances, investment, and consumer confidence. During a boom, businesses expand, stock markets perform well, and incomes rise. However, it can also lead to inflation and asset bubbles if growth continues unchecked. Ultimately, a boom is a phase of vigorous economic activity that can set the stage for a subsequent slowdown or recession when the market corrects itself.