Yes, slumps is a Scrabble word!
...and is worth 10 points in Scrabble, and 14 points in Words with Friends
slumps
Verb
1. Assume a drooping posture or carriage
2. Fall or sink heavily
3. Fall heavily or suddenly; decline markedly
4. Go down in value
Noun
1. A noticeable deterioration in performance or quality
2. A long-term economic state characterized by unemployment and low prices and low levels of trade and investment
What Scrabble words can I make with the letters in slumps?
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Words that can be created with an extra letter added to slumps:
H:shlumps