The large law firm market scored a rare triple win in the second quarter, with strong gains in demand, rate growth and productivity. The Thomson Reuters Peer Monitor Index (PMI), which measures the relative health of the U.S. large law firm market, surged ten points to 62, its highest reading since 2011. Demand for law …
Filtered by tag:
Peer Monitor Index
Strong Fourth Quarter for Law Firm Market
The large law firm market had a surprisingly strong fourth quarter as demand, rate growth and productivity all rose in the same quarter for the first time in almost five years. The Thomson Reuters Peer Monitor Index (PMI), which measures the relative health of the U.S. large law firm market, rose a sharp 11 points …
Q1 PMI: Large Law Firms Improve Demand & Rates But Struggle with Collected Realization
Two steps forward, one step back for large law firms in the first quarter. Demand for legal services rose, as did rates, helping boost the Thomson Reuters Peer Monitor Index to its highest mark in almost two years. Demand rose 0.3%, and worked rates were up 3.0%, one of the strongest quarterly rate growth figures in more than …
Peer Monitor Index Holds Steady in Q3
Cross-currents buffeted the large law firm market in the third quarter. Firms saw the highest rate growth in two years, but also suffered the second consecutive quarterly decline in demand. The result was that the Peer Monitor Index held steady at 48 for the quarter. Rates have been rising steadily all year. In the third …
Peer Monitor Index Drops in Q3
After holding steady in Q1 and Q2, the Peer Monitor Economic Index (PMI) fell two points to 52 in the third quarter. Somewhat higher demand was offset by slightly weakening trends nearly across the board in demand, rates, expenses and productivity. The PMI is produced by Thomson Reuters, and is a composite index of law …
Law Firm Leaders Forum 2015 – Legal Marketplace Seeing Hyper-Competition amid Flat Demand
The legal industry has changed dramatically in the years since the beginning of the Great Recession, and is now driven by market forces like hyper-competition, technological innovation and slower demand for legal services. These forces continue to push change on the industry, forging it into something very different from what it was less than a …
Peer Monitor Index drops in Q4
The see-saw trends in the market for law firm services continues. The Peer Monitor Economic Index (PMI), which measures the relative health of the legal marketplace, fell in the fourth quarter, dropping three points to 54. Overall, 2014 saw weak but steady growth in demand. However, falling productivity and rate growth helped to dampen law …
PMI shows improved law firm demand
The Peer Monitor Economic Index (PMI) rose two points to 57 in the third quarter, reflecting improved demand for law firm services. It was the third consecutive quarterly gain in demand and the strongest jump since Q4 2012. Year-to-date demand, as measured by billable hours, is now up 0.9 percent. However, weak rate growth and flat …
Law firm demand up, but so is headcount
The market for law firm services hit a slight turbulent patch in the second quarter. The Peer Monitor Economic Index (PMI) dipped one point to 55. While demand for legal services was up 0.4 percent compared with a year ago, productivity fell 0.8 percent as firms added headcount in excess of demand. Transactional practices (corporate work, …
Peer Monitor Index shows increasing law firm activity in first quarter
2014 got off to a good start, according to the Peer Monitor Economic Index. The PMI rose 4 points to 56 in the first quarter report, reflecting improved demand and rates compared with the year-earlier period. Transactional practices were particularly strong, including corporate work, real estate and tax work. That helped make up for continued weakness …
