While getting smaller is not something to be celebrated in an average pregnancy, for us it means that the fluid inside baby's body is resorbing and baby is getting better. The fluid is still there, and I think the medicos had hoped that it would decrease faster than it is, but we're definitely heading in the right direction.
The rest of baby's measurements are tracking pretty well. Those that are least influenced by fluid (and thus more reliable indicators of baby's true size) are around the 3rd percentile. So very small, but considering everything else, that's not much of an issue.
What could possibly be an issue is the amount of amniotic fluid (around baby). It's been hovering around the top of the normal range for the last month, but has now tipped over into the 'mild polyhadramnios' range. Not something of immediate concern, we're not doing anything about it, but a return to the normal range would be nice.
Baby finally cooperated and gave us a glimpse of his/her face. With markers to aid interpretation :)