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 …
Filtered by tag:
Peer Monitor Index
Peer Monitor Index rises in third quarter
Following a slow start to the year, the Thomson Reuters Peer Monitor Economic Index (PMI) rose 2 points to 55 in the third quarter, its second consecutive gain. Demand for legal services was up 0.8% – the first quarterly increase seen so far this year. Despite the improvement, year-to-date demand is still down 0.9%. Worked …
- November 15, 2013
- Susan Martin
Peer Monitor Index, Capital Stack and new drug sentencing policies – podcast: August 2013
The Legal Current podcast emerges for the second time since its renewal with more unique insights into the Legal market. In the August 2013 edition of the Legal Current podcast, we cover: Legal trends & insights: The Peer Monitor Index (PMI) provides some hope in the second quarter as the law firm market improves Legal news: In a settlement over …
- August 27, 2013
- Kelsey Engbrecht
The challenge of thriving in today’s economic climate
This post was written by Allison Guidette, managing direct of Large Law Firms Over the past five years, the legal industry has gone through substantial change and the economics of many law firms have evolved in kind. The credit crisis hit mid-2008 causing a big dip in demand for just about all legal services immediately …
- November 5, 2012
- Susan Martin
Peer Monitor Index falls again in third quarter
The Peer Monitor Economic Index (PMI), which measures the relative health of the legal marketplace, fell one point in the third quarter to a reading of 50, its second consecutive quarterly decline. According to the Q3 report, weakening demand for law firm services combined with rising costs continue to curtail firm profitability. A copy of …
- November 5, 2012
- Scott Augustin
Peer Monitor Index rises in first quarter – demand up slightly, but expenses rising as well
The Hildebrandt Institute’s Peer Monitor Index (PMI) rebounded 6 points to 55 in the first quarter – reversing two consecutive quarterly declines. Demand growth was back on a positive track. However, the good news was dampened by expense growth, which continues to accelerate, reducing firm profitability. After a weak finish to 2011, demand for legal services was …
- April 27, 2012
- Scott Augustin
Peer Monitor Index drops in Q3
The Peer Monitor Economic Index (PMI) dropped six points to 56 in Q3. The Hildebrandt Institute report showed that demand for law firm services weakened slightly, while expenses rose, reducing law firm productivity and profitability. Although demand for litigation services rose 1.5 percent in the third quarter, demand for transactional services such as M&A fell, due largely …
- October 31, 2011
- Susan Martin
PMI shows improving law firm market – podcast
The Hildebrandt Baker Robbins Peer Monitor Index rose again in the first quarter, a result of improving demand for legal services and law firm profitability. The PMI rose 5 points to a reading of 60, its second consecutive quarterly increase. While law firms are slowly ramping up their hiring in response to improving demand, weak rate growth …
- June 7, 2011
- Susan Martin
State of the US legal industry: Peer Monitor Index rises in fourth quarter
Has the US legal market turned the corner? Demand for legal services rose for the first time in more than two years, according to the latest Peer Monitor Index report from Hildebrandt Baker Robbins. PMI rose three points in the fourth quarter of 2010 to a reading of 55. The PMI has now resumed the gradual upward …
- February 18, 2011
- Scott Augustin
