"ongoing slump" is a correct and usable phrase in written English.
You can use it to refer to a situation in which something (usually an industry, economy, or market) has been in a state of decline for a period of time and continues to decline. For example, "The ongoing slump in the housing market has put many homeowners in a difficult position."
But given the ongoing slump, does abandoning the idea make sense?
The ongoing slump subdues demand for loans, even as historically low interest rates hold down the profitability of the credit that it does extend to customers.
I do think that one reason I've done pretty well in tracking this ongoing slump is that I've been thinking about liquidity trap issues for a very long time, years before almost anyone else.
For the remarkable thing about this ongoing slump isn't so much that we had a financial crisis as the fact that we responded to it, not by applying what macroeconomists thought they had learned, but by repeating all the policy errors of the 1930s.
The big drag on the employment picture hasn't been lack of confidence or "regulatory uncertainty," but the ongoing slump in the construction industry, which usually leads the way during recoveries, and, almost as importantly, budget cuts at the state and local levels.
Most notably, the ongoing slump in housing markets and a tight lending environment are restricting growth, even if the economy has not officially contracted.
The ongoing housing slump and rising fuel prices have dampened consumer demand.
With the ongoing housing slump, the company reiterated its earnings outlook for this year.
For retailers looking to boost traffic during an ongoing economic slump, the specials won't end Dec. 25.
Even in the midst of an ongoing economic slump, Americans have not renounced going out to dinner.
Consumers have also been struggling with tightening credit, the ongoing housing slump and a weakening job market.
