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 …
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PMI
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 …
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 …
Peer Monitor Index flat in Q1
The Peer Monitor Economic Index (PMI), which measures the relative health of the legal marketplace, was unchanged at 54 in the first quarter. Despite slightly higher demand for law firm services, weak rate growth and falling productivity held back gains in the market Demand for large law firm services rose 0.6 percent during the quarter – …
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 …
Mid-size firms market may be stabilizing
Thomson Reuters Peer Monitor has issued its Mid-Size Law Firm Report for the second quarter of 2014, and the findings indicate that the market for mid-size law firm services may be showing some signs of stability and tentative improvement. Overall demand for legal services from mid-size firms declined by 0.6 percent for the first seven months …
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 issues Mid-Size Law Firm Report
Mid-size law firms face unique challenges and opportunities in the current law firm market. Peer Monitor has launched its first Mid-Size Law Firm Report, analyzing this segment of the market, which consists of firms outside of the Am Law 200. The report finds that mid-size firms struggled last year, compared with larger firms. But they also may find …
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 …
