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'slack demand' is correct and usable in written English.
It is used to describe a situation in which there is decreased demand for a product or service. For example, "Due to the economic downturn, many companies have experienced slack demand for their products."
Exact(56)
Veritas blamed slack demand from businesses.
Veritas cited slack demand from American businesses.
Business investment in the face of slack demand?
The weak import data underlined slack demand within China.
With slack demand, workers were laid off, the depression deepened".
Since 2008 America, like many other countries, has struggled with slack demand and high unemployment.
Companies now factor in the prospect of higher construction costs, mixed with a slack demand.
With slack demand, there is less urgency to build new plants.
But last month, the company postponed the offering because of slack demand.
Budget deficits do no damage when run during times of slack demand.
"With slack demand, production is stagnant and jobs are being eliminated".
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com