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The phrase "a sharp downturn in" is correct and usable in written English.
It can be used to describe a significant decline or decrease in a particular area, such as the economy, sales, or performance.
Example: "The company experienced a sharp downturn in profits last quarter, prompting management to reevaluate their strategy."
Alternatives: "a significant drop in" or "a steep decline in".
Exact(50)
The company is suffering through a sharp downturn in sales.
That may change, in the event of a sharp downturn in the global economy.
That makes a sharp downturn in China less likely in the near future.
Global financial difficulties led to a sharp downturn in industrial activity in Syria in early 2009.
They see "a substantial likelihood of a sharp downturn in the United States".
But the summers are normally warm enough to cause a sharp downturn in flu cases.
The partial closure coincided with a sharp downturn in relations between the two countries.
The stronger performance reflected recoveries in private-sector capital expenditure (capex) and exports, offsetting a sharp downturn in housing investment.
After President Bush took office, the company continued its political giving despite a sharp downturn in its business.
And that, shortly after it was completed, the Governor died and there was a sharp downturn in HSBC's fiscal fortunes?
A sharp downturn in the fortunes of telecommunications companies has forced British Telecommunications to sell many of those assets.
More suggestions(17)
a sharp slowdown in
a sudden downturn in
a sharp decrease in
a sharp decline in
a sharp drop in
a sharp retrenchment in
a sharp downswing in
a notable downturn in
a sharp deterioration in
a sharp slowing in
a sharp setback in
a sharp deceleration in
a drastic downturn in
a sharp slump in
a sharp slow down in
a pronounced downturn in
a recent downturn 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