To be lower than or to fall below a given figure or standard (used for numbers such as sales, rates, etc.).
今年の売上は予想を下回った。
This year's sales fell below expectations.
失業率が３％を下回ったと発表された。
It was announced that the unemployment rate fell below 3%.
参加者数が目標をやや下回ったため、会場を縮小した。
Because the number of participants fell slightly short of the target, we reduced the venue size.