That is the definition of going downhill. There is nothing else that could be understood from that statement.
You should be posting comparative figures from 1947 - 2008, showing a deteriorating economy, not a link to a 7,000 word essay. Moreover SAAG is an Indian think-tank, not any economic organization, and they are likely to show bias. I failed to understand how an Indian think-tank would have more knowledge of the Pakistani economy than SBP or international organizations such as WB/IMF.