Hmm... Never actually thought of this. If you count backwards through chromatic scale you end up with P4 below but you won't end up with the correct subdivision of frequencies for it to be P4 but an inversion of P4 which is P5... Or is there a chapter of theory I'm missing here?
The 5th in question here is the 5th note of the major scale (as well as some other scales/modes). Also called a "Perfect 5th" (don't ask). It is found 7 half-steps above the root, or 5 half-steps below the root. On the fretboard you may play it two frets higher on the next smallest string, or on the same fret on the next biggest string.