What does the term "bust" mean in economical level?

A bust is a period of time during which economic growth decreases rapidly. In the stock market, busts are usually associated with bear markets. During busts, inflation decreases, and in extreme cases, can cause deflation. In addition, unemployment rises, income falls and demand decreases. Because of the cyclical nature of the economy, a bust usually follows a boom in what is called the "boom and bust" cycle.

Depending on the scale of the bust, some economic side effects may occur beyond the original sector responsible for the boom. This can include an economic recession. A recession commonly involves falling gross domestic product (GDP) and rising unemployment.