The phrase "a severe slump" is correct and usable in written English.
It can be used to describe a significant decline or downturn in various contexts, such as economics, business, or performance.
Example: "The company experienced a severe slump in sales during the last quarter, prompting management to reevaluate their marketing strategy."
Alternatives: "a significant downturn" or "a major decline."
A year ago, when the global recession resulted in a severe slump in exports, Chinese officials said 20 million migrant workers lost their jobs.
This would lead to a severe slump on its own.
Despite a severe slump in the second half, Morneau had 30 homers and 100 R.B.I.
Like many other German companies, Glasbau Hahn suffered through a severe slump in exports last year.
And every winter, the town used to suffer a severe slump.
Ups and downsWall Street marked its decade-long bull market with a severe slump in share prices.
Now we face a more severe slump, probably driven by deleveraging, in which even a zero rate isn't low enough, so monetary policy has to work in unconventional ways – in particular, by changing expectations about future inflation, so as to reduce real interest rates.
More job reductions could cause consumers to spend less money and leave the economy in a more severe slump.
For idiosyncratic reasons, Canada imposed tight monetary and fiscal policy, leading to a very severe slump in employment: As you can see, however, employment eventually recovered.
The city of Las Vegas has suffered a particularly severe slump as Wall Street banks have cancelled conferences, fearing criticism for sending staff to the gambling mecca in the desert.
According to the most recent numbers I've seen, the bailout deal will immediately jump Cypriot debt up to 140 percent of GDP, about the same as Greece in 2010 — and as I've argued, we're looking at the likelihood of an even more severe slump plus deflation than Greece has experienced.
