The phrase "steep reduction" is correct and can be used in written English.
It is typically used to describe a significant decrease or decline in something, such as a number, percentage, or amount. For example: - The company's cost-saving measures resulted in a steep reduction in overall expenses. - The government's new policy led to a steep reduction in unemployment rates. - The stock market saw a steep reduction in value after the announcement of the economic downturn.
Perhaps the biggest surprise was the steep reduction in sales estimates of network equipment.
The numbers in Chechnya were 81 killed and 103 wounded, a steep reduction from just a few years ago.
Inside, a group of advocates in wheelchairs also criticized a steep reduction in financing for in-home care.
The Awakening Councils, as they are known, are credited by American officials as one of the main catalysts behind the steep reduction in violence there.
These include the privatization of government-owned airlines, utilities and manufacturing companies; the elimination of trade barriers within Europe; and a steep reduction in government subsidies for business.
City officials said Turkey's documentation of how much of its building had been used for diplomatic functions warranted the steep reduction from the $70 million claim.
In an odd twist, the societies have been hit hard by the Federal Reserve's steep reduction of its benchmark interest rate.
The work on the garden has already had one positive outcome: a steep reduction in crime there and along the adjacent riverbank.
In an odd twist, the societies have been hit hard by the Federal Reserve's steep reduction of its benchmark interest rate, which finally plunged last month to near zero.
To finance his dream, he raised tuition and cut staff, resulting in a dangerous drop in enrollment and a steep reduction in revenue that brought the school into a full-fledged fiscal crisis.
For the housing market to improve, inventories of unsold homes will have to come down — a development that is dependent on a steep reduction in prices that could attract more buyers.
