"dwindling productivity" is a correct and usable phrase in written English.
You can use it to refer to a situation where productivity is decreasing or declining. For example, you could say: "The company has been facing a major problem with dwindling productivity leading to an overall decrease in profits."
But I was surprised to find myself thinking that last week's bad press, which painted a picture of our services as a useless machine into which endless money is being poured while it churns out results of ever-dwindling productivity, was a bit too harsh.
Instead, they turn their attention and spare time to those Java/Flash-type cheap online games, which are free and highly addictive, the type of games that are responsible for a persistent lack of productivity and dwindling attention-spans in workplaces the world over.
Mr. Oshima saw his reputation somewhat eclipsed as his productivity dwindled, although that had changed in recent years with traveling retrospectives and the increasing availability of his work on DVD.
As her own productivity dwindled and finally ceased altogether, she kept a commonplace book in which she was recording her thoughts and opinions on literature as late as 1988.
Dwindling glaciers and glacial melt threaten agricultural productivity in many parts of the world.
Analysts in South Korea remained divided over whether Mr. Kim was trying to achieve genuine economic change, of the kind his country's main ally, China, has pursued, or seeking more productivity only to make up for his dwindling state coffers.
The pipeline in the pharmaceutical industry has been dwindling in recent years, with only 26 new drugs approved last year, half the productivity of a decade ago.
By reversing the dwindling fertility rate while increasing the quantity and quality of the workforce, a state will increase its productivity and competitiveness in the global market.
