  Decaying Dark Energy models modify the background evolution of the most
common observables, such as the Hubble function, the luminosity distance and
the Cosmic Microwave Background temperature-redshift scaling relation. We use
the most recent observationally-determined datasets, including Supernovae Type
Ia and Gamma Ray Bursts data, along with $H(z)$ and Cosmic Microwave Background
temperature versus $z$ data and the reduced Cosmic Microwave Background
parameters, to improve the previous constraints on these models. We perform a
Monte Carlo Markov Chain analysis to constrain the parameter space, on the
basis of two distinct methods. In view of the first method, the Hubble constant
and the matter density are left to vary freely. In this case, our results are
compatible with previous analyses associated with decaying Dark Energy models,
as well as with the most recent description of the cosmological background. In
view of the second method, we set the Hubble constant and the matter density to
their best fit values obtained by the {\it Planck} satellite, reducing the
parameter space to two dimensions, and improving the existent constraints on
the model's parameters. Our results suggest that the accelerated expansion of
the Universe is well described by the cosmological constant, and we argue that
forthcoming observations will play a determinant role to constrain/rule out
decaying Dark Energy.
