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The phrase "a sharp slowdown in" is correct and usable in written English.
It can be used to describe a significant decrease in the pace or rate of something, often in economic or performance contexts.
Example: "The report indicated a sharp slowdown in economic growth over the last quarter."
Alternatives: "a significant decline in" or "a marked decrease in".
Exact(60)
"The main problem remains a sharp slowdown in tax receipts.
A sharp slowdown in refinancing hurt the bank's mortgage business.
Rather, the shock has come through a sharp slowdown in exports.
A sharp slowdown in America could conceivably tip Japan back into recession.
Grim data also pointed to a sharp slowdown in economic growth around the globe.
That followed news of a sharp slowdown in US job creation in May.
Much of that drop can be attributed to a sharp slowdown in Spain.
That implies a sharp slowdown in the second half of the year, to a rate well below 3%.
This has prompted some economists to start fretting about rising inflation or even a sharp slowdown in growth.
The deal also provides a respite from a sharp slowdown in mergers activity for the year to date.
That limits its scope to respond to a sharp slowdown in exports, if Europe and America continue to falter.
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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