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"revised downward" is a correct and acceptable phrase that can be used in written English.
For example, "The company's forecast for sales was revised downward after the disappointing results of the previous quarter."
Exact(57)
Demand in previous months was revised downward.
Many had already been revised downward.
Still, it revised downward its view on personal consumption.
Projections for 2001 are already being revised downward.
Finally, November's upbeat job report was revised downward.
Expectations for the Green Deal are rapidly being revised downward.
In October inflation was revised downward to 21%.
Job growth for April and March was revised downward.
Who has ever heard of an estimate being revised downward?
But revenue targets have been revised downward several times.
April's figure was revised downward to 659,000.
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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