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Discover Ludwig'demand declined' is correct and usable in written English.
It is typically used to express that the demand for something has decreased. For instance, "Due to the current economic situation, demand for luxury items declined significantly."
Exact(28)
When the war ended however, allotment demand declined.
The Commerce Department reported that foreign demand declined for American-made cars and farm goods.
Demand declined for seasonal products including lawn and garden items, the company said.
Rich countries again consumed less; so energy demand declined for the third out of the past four years.
Gasoline demand declined in the first 11 weeks of the year for the first time since 1997.
Klaus Kleinfeld, Alcoa's chief executive, said profits were squeezed as aluminum prices and demand declined and costs rose.
Similar(28)
When demand declines, prices fall.
And as demand declines, the supply side dries up.
As a result, aggregate demand declines putting further downward pressure on prices.
In a nutshell, Mr Cowen suggests that the demand declines associated with recession come in different flavours, varying between entirely temporary and cyclical to permanent.
[C4.] Intel Issues Warning on Sales Intel warned that first-quarter sales would fall short of its highest forecast as demand declines for flash-memory chips.
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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