If every galaxy was observed in its present day state, then that conclusion would seem to be valid. However, when we're looking at a galaxy 5 billion light years from us, we're looking at it as it was 5 billion years ago (including the light shift).
Therefore, it seems at least plausible that expansion is slowing rather than accelerating, since galaxies were moving away faster the further back you go in time.
I'm sure the above can be explained, although it may require a lot more time/effort to refute than it took for me to make the argument, but could somebody with more training in the subject point out the flaw in my logic or explain why the expansionist interpretation fits better with observation?