Law firm market improves, PMI up in second quarter
The Thomson Reuters Peer Monitor Economic Index rose 3 points to 53 in the second quarter, following a poor start to the year. Demand for the quarter was flat. Worked rates were up 3.2%.
Litigation fell for the fourth consecutive quarter, dropping 1.5%, although the decline was less than the first quarter.
Corporate work, IP patent work and labor and employment rose in the quarter. Real estate was also up, reflecting renewed strength in the housing market.
A copy of the report can be downloaded here.