With the year winding down, Legal Current is looking back at the milestones and key accomplishments from the Legal Professionals business of Thomson Reuters. Today we highlight a recent episode of Law.com’s Legal Speak podcast that featured ALM Business of Law Reporter Andrew Maloney talking with Bill Josten, manager of enterprise content for Thomson Reuters. …
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peer monitor economic index
2021 Highlights: Peer Monitor Insights into Law Firm Performance and Recovery
As 2021 comes to a close, Legal Current is looking back at the milestones and key accomplishments from the Legal Professionals business of Thomson Reuters. Today we revisit findings of the quarterly Peer Monitor Economic Index reports through the first three quarters of 2021 and the insights they provided into how law firms are recovering …
- December 2, 2021
- Carrie Brooker
Peer Monitor Index: Legal Industry Reaction to Record-High Rating
Last week Thomson Reuters released the Q2 2021 Peer Monitor Economic Index (PMI), a composite index of law firm market performance, with a record high of 84 points – a 22-point jump and the biggest quarterly increase in the history of Peer Monitor. The report explored the factors and trends contributing to the rating, including …
- August 16, 2021
- Carrie Brooker
Thomson Reuters Peer Monitor Index: Historic Highs and Lows of Law Firm Market Performance
Thomson Reuters will issue the Q2 2021 Peer Monitor Economic Index (PMI) report on Aug. 9, marking the first full-year report since the COVID-19 pandemic hit. Issued quarterly since 2006, the reports explore law firm market performance using real-time data drawn from major law firms, examining drivers of law firm profitability, including rates, demand, productivity …
- August 5, 2021
- Carrie Brooker
Drop in Demand for Law Firm Services Moderates in the Third Quarter: Peer Monitor Index
For many American law firms, the second quarter was an abrupt shock to the system. Yet it also provided ample time to chart a path forward, and firms did just that in the third quarter. The decline in demand for law firm services moderated in the third quarter as rates rose and firms took steps …
- November 9, 2020
- Carrie Brooker
PMI holds steady
The Peer Monitor Economic Index (PMI) was unchanged for the second consecutive quarter, holding steady at 54 in Q2. Slightly higher demand was offset by weak rate growth and falling productivity. Demand for large law firm services rose 0.4% during the second quarter – while it was the sixth consecutive quarterly gain, it was also …
- August 5, 2015
- Leonard Lee
Peer Monitor Economic Index holds steady for second consecutive quarter
EAGAN, Minn. – The Peer Monitor Economic Index (PMI), which measures the relative health of the legal marketplace, was unchanged for the second consecutive quarter, holding steady at 54. Slightly higher demand was offset by weak rate growth and falling productivity. The PMI is produced by Thomson Reuters, and is a composite index of law …
- August 5, 2015
- Scott Augustin
Peer Monitor Economic Index Holds Steady in First Quarter
EAGAN, Minn. – The Peer Monitor Economic Index (PMI), which measures the relative health of the legal marketplace, was unchanged at 54 in the first quarter, the same as the previous quarter. Despite slightly higher demand, weak rate growth and falling productivity held back gains in the market The PMI is produced by Thomson Reuters, …
- May 5, 2015
- Scott Augustin
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 …
- August 16, 2013
- Kelsey Engbrecht