Redshift - Expanding Universe?

Last night, I was reading "The Universe in a Nutshell" about redshift of distant galaxies -- they are leaving us at higher speed if they are farther away from us.



If a galaxy is, say 1 million light-years, away from earth, its light takes 1 million years to reach us.  All we see NOW is what happened to the galaxy 1 MILLION YEARS AGO.  Thus, our conclusion should be that this galaxy is moving away from us at higher speed 1 million years ago.

Similar thought, the closer galaxies, which we see their more recent events, moves away from us at a lower speed.



Does this mean that the universe's expansion is slowing down?