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The phrase "a sharp deterioration in" is correct and usable in written English.
It can be used to describe a significant decline or worsening in a situation, condition, or quality.
Example: "The report highlighted a sharp deterioration in the company's financial performance over the last quarter."
Alternatives: "a significant decline in" or "a marked worsening in".
Exact(52)
If the Senate had rejected or even significantly delayed ratification, it could have led to a sharp deterioration in relations.
The Palestinian president, Yasser Arafat, is flown to Paris for medical treatment after a sharp deterioration in his health.
"A military solution would entail huge human and material losses and a sharp deterioration in the international situation," it said.
In the service sector, there had been a sharp deterioration in both financial and non-financial services since 2009.
Moody's cited a sharp deterioration in the airline's core domestic business, due to aggressive competition from its rival Virgin Australia.
All five have seen a sharp deterioration in their current-account balances since the start of EMU (see chart 2).
Similar(8)
It was found that the surfaces of the cartilage samples with grade 1 and 2 started to become rough with a significant increase in URI compared with normal cartilage, but no significant change between groups of grade 1 and grade 2. However, a sharp deterioration occurred in the grade 3 cartilage samples with a great increase in URI to 193.27 ± 75.06 μm.
General Motors lost $154 million in Europe, a sharp deterioration from the $166 million in earnings reported a year earlier.
The most important factor behind the slow-down is a sharp deterioration of production performance in the Far East and Oceania developing region.
Newcrest, which has gold mines in Australia, Papua New Guinea, Indonesia and Ivory Coast, said its moves were the result of "the current market environment and outlook, including a recent sharp deterioration in the gold price, the largest in 30 years".
It also found a further sharp deterioration in availability of staff.
More suggestions(15)
a considerable deterioration in
a strong deterioration in
a substantial deterioration in
a sharp erosion in
a notable deterioration in
a sharp alteration in
a sharp drop in
a sharp decrease in
a sharp breakdown in
a sharp downturn in
a pronounced deterioration in
a serious deterioration in
a sharp reversal in
a sharp increase in
a sharp fall in
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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