boomboom1 /buːm/ noun [countableC, uncountableU]1ECONOMICS a time when business activity increases rapidly, so that the demand for goods increases, prices and wages go up, and unemployment fallsa boom in the building sector
After four years of economic boom, this year saw a slowing down of the economy.
Government economic policy encouraged a consumer boom followed by a deep recession.
A system of low taxation on land sales helped fuel a property boom.
→ compare slump 2FINANCE a time when activity on the stockmarket reaches a high level and share prices are very highHopes of further interest rate cuts sparked off a shares boom yesterday.