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Discover LudwigThe phrase "are spiralling" is correct and usable in written English.
It can be used to describe a situation or condition that is rapidly worsening or becoming chaotic.
Example: "The economy is facing significant challenges, and many believe that it are spiralling out of control."
Alternatives: "are deteriorating" or "are descending".
Dictionary
Exact(37)
Delinquencies are spiralling.
Living costs are spiralling.
Meanwhile, Black's financial woes are spiralling.
In an auction room, prices are spiralling.
Events are spiralling out of their control.
But this year living costs are spiralling and income is flat-lining.
Similar(23)
Events are spiraling out of control.
Now, all predictions are spiraling into the abyss.
Her life and career are spiraling out of control.
And student loans are spiraling out of control.
Their debts were spiralling.
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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