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"a modest decline" is a correct and usable phrase in written English.
It is typically used to describe a small or moderate decrease or reduction in something, such as a quantity, value, or trend. Example: "The company experienced a modest decline in sales last quarter, but still remains profitable."
Exact(59)
New contracts and cost cutting have offset what the company calls "a modest decline in revenue".
Most forecasters have predicted a modest decline in orders and deliveries of business jets this year.
However, the group said it continued to expect a "modest decline" in profits for the year.
But even a modest decline in duties would cut the profitability of smuggling.
The data showed a modest decline in homicides in 2012, the first in six years.
With currency concerns it said it expected a modest decline in full year earnings per share.
After all, even the comparison between 2006 and 2009 shows a modest decline in England's performance.
Pending sales — signed contracts between buyers and sellers — rose in July, by 5.2 percent, beating expectations of a modest decline.
He also said there was a "modest decline" in concussions last season for the first time in three years.
Even a modest decline in the flow can weaken the dollar and drive up the prices of imported goods.
A modest decline is foreseen on Tuesday in the Institute for Supply Management survey of manufacturing conditions.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com