boom

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Related to crane boom: crawler crane

Boom

A period of rapid, strong economic and/or stock growth. For example, some developing countries post GDP growth of 10-12% per year, especially after they have liberalized their economic policies. Likewise, some stocks may become suddenly very popular, resulting in a boom. The dot-com bubble is one of the most famous examples of a stock boom. The problem with booms is that the growth is rarely sustainable, as investors become more and more speculative and take needless risks. Thus, most booms ultimately result in busts. Many economists believe the boom-and-bust cycle is an inevitable part of doing business, while others believe that government regulation can limit both booms and busts.

boom

see BUSINESS CYCLE.

boom

a phase of the BUSINESS CYCLE characterized by FULL EMPLOYMENT levels of output (ACTUAL GROSS NATIONAL PRODUCT) and some upward pressure on the general PRICE LEVEL (see INFLATIONARY GAP). Boom conditions are dependent on there being a high level of AGGREGATE DEMAND, which may come about autonomously or be induced by expansionary FISCAL POLICY and MONETARY POLICY. See DEMAND MANAGEMENT.
References in periodicals archive ?
Talavera, 53, and another worker were standing under a crane boom when a boom extension became dislodged and started falling toward the ground.
on transfer crane boom truck with office 1 module 3 x 6 mt, with air conditioning equipment installed externally.
The team will independently establish the circumstances and facts of the event, which was initiated when a mobile crane boom contacted an electrical line supplying power to Unit 3, causing a fault.
These plates are especially suited to the production of tippers and crane booms, for example.
Ruukki announced that Link-Belt Construction Equipment Company is using its Optim brand of ultra-high-strength steel to manufacture its next-generation of telescopic crane booms.