
blühend
blooming
Describes a plant that is currently bearing flowers.
Im Frühling ist der ganze Garten voller blühender Tulpen.
In spring, the whole garden is full of blooming tulips.
blooming / flourishing
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blooming
Describes a plant that is currently bearing flowers.
Im Frühling ist der ganze Garten voller blühender Tulpen.
In spring, the whole garden is full of blooming tulips.

flourishing
Describes something that is developing very well, successful, or prosperous. Often used for businesses, the economy, or also a person's appearance.
Dank der neuen Technologie erlebt das Unternehmen eine blühende Phase.
Thanks to the new technology, the company is experiencing a flourishing phase.

vivid imagination
In the fixed expression "blühende Fantasie" (vivid imagination), it means that someone has a great deal of imagination.
Kinder haben oft eine blühende Fantasie und erfinden die tollsten Geschichten.
Children often have a vivid imagination and invent the most amazing stories.
'Blühend' (blooming/flourishing) is the present participle of the verb 'blühen' (to bloom). It is used like a normal adjective, placed before a noun and declined.
Wir saßen unter einem blühenden Apfelbaum.
We sat under a blooming apple tree.
In its literal meaning, 'blühend' (blooming) describes plants. Typical combinations are 'blühende Blumen' (blooming flowers), 'blühende Wiesen' (blooming meadows), or 'blühende Landschaften' (blooming landscapes).
Die blühenden Rapsfelder leuchten im Mai gelb.
The blooming rapeseed fields glow yellow in May.
In a figurative sense, 'blühend' (flourishing) describes success and positive development. For example, people speak of 'blühende Geschäfte' (flourishing business) or a 'blühende Wirtschaft' (flourishing economy).
Nach der Krise erlebte die Stadt wieder blühende Zeiten.
After the crisis, the city experienced flourishing times again.
The meaning 'a great deal of imagination' is used almost exclusively in the fixed expression 'eine blühende Fantasie haben' (to have a vivid imagination).
Mit seiner blühenden Fantasie dachte er sich immer neue Abenteuer aus.
With his vivid imagination, he kept coming up with new adventures.
lively / vivid
Lebhaft describes a clear and distinct idea. Blühend, by contrast, occurs in the fixed expression blühende Fantasie and emphasizes an especially vivid, often inventive imagination. That is why blühend fits directly with Fantasie, while lebhaft tends to describe individual ideas.

Mit seiner blühenden Fantasie erfindet das Kind ein ganzes Schloss voller geheimer Räume.
With his vivid imagination, the child invents an entire castle full of secret rooms.
Das Kind hat eine lebhafte Vorstellung davon, wie das Schloss aussehen könnte.
The child has a vivid idea of what the castle might look like.