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large law firm market

Cost Cuts, Higher Rates Drive Peer Monitor Index Higher

Law firms finished 2020 on an optimistic note. Weakness in demand moderated, rates remained high, and firms were able to reduce several key costs.  As a result, the Thomson Reuters Peer Monitor Index (PMI), which measures key law firm performance indicators hit a near-record high in the fourth quarter of 2020. Demand for law firm …

  • February 2, 2021
  • Leonard Lee

Demand for Law Firm Services Endures Largest Quarterly Drop Since 2009: Peer Monitor Index

The Q2 2020 Thomson Reuters Peer Monitor Economic Index (PMI) report showed the large law firm market struggled in the second quarter as a result of stay-at-home orders, court closures and broader economic slowdowns. The PMI dropped by six points to 51, with demand for law firm services enduring its largest quarterly drop since 2009, …

  • August 10, 2020
  • Carrie Brooker

Demand for Large Law Firm Services Surges in Q3: Peer Monitor Index

Demand for large law firm services surged in the third quarter to one of its highest levels since the end of the recession. The Thomson Reuters Peer Monitor Economic Index Report (PMI) says the PMI rose three points to 56 — its second consecutive quarterly gain. However, lagging productivity and rising costs dampened profitability slightly. …

  • November 4, 2019
  • Leonard Lee

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Press Releases

Anti-Money Laundering Compliance Leaders Addressing New Requirements with Technology, Staff
MINNEAPOLIS-ST. PAUL, October 24, 2018 – The commencement of anti-money laundering (AML) requirements for financial institutions issued in May 2018 has caused increasing numbers of firms to shift their... Read more ...
Oct 24, 2018
Thomson Reuters Unveils New Legal Research Platform with Advanced AI: Westlaw Edge
MINNEAPOLIS-ST. PAUL, July 12, 2018 – Thomson Reuters today introduced Westlaw Edge, the latest advancement in legal research, providing legal professionals with the next generation of AI-driven legal search,... Read more ...
Jul 12, 2018
Thomson Reuters Legal Tracker LDO Index Notes Budget Squeeze, Prioritization of Cost Controls and Technology
Report details focus on legal operations, workload increase EAGAN, Minn. June 25, 2018 – For many corporate legal departments, budgets are not keeping up with the growing volume of... Read more ...
Jun 25, 2018

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