Peer Monitor Index falls in fourth quarter
The Thomson Reuters Peer Monitor Economic Index fell 3 points to 52 in the fourth quarter. Demand for legal services was down 0.6 percent. For the year, demand was down 0.7 percent as the law firm market suffered its first down year since 2010. Law firms are struggling to maintain market share as clients bring more work in-house, and as non-law firm service providers, such as legal process outsourcing, ADR, and consulting & accounting firms continue to make inroads in the legal market.
A copy of the report can be downloaded here.