The Q2 2024 Thomson Reuters Law Firm Financial Index (LFFI), powered by Financial Insights, showed continued strong growth for law firms amid a resurgence in transactional practices and solid fundamentals in the second quarter of 2024. Released today by Thomson Reuters, the report showed a healthy outlook for law firms with overall demand up 2.4% …
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Law Firm Recovery Continues: Takeaways from Q2 2023 Thomson Reuters Law Firm Financial Index
The strong start for the law firm market in 2023 continued in the second quarter with robust rate growth and demand up for the second consecutive quarter. These are among the findings of the Q2 2023 Thomson Reuters Law Firm Financial Index (LFFI) powered by Financial Insights. Legal Current highlights top takeaways from the report, …
Dynamic Law Firms Report: Strategies Top-Performing Firms Use to Fuel Growth
Law firms that invest in technology and innovation earn higher revenues. This is among the key takeaways of the 2023 Dynamic Law Firms Report, which examines a 10-year stretch of data to identify the strategies law firms are using to ensure long-term success and growth. The report found that when clients perceive a firm they …
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 …
Transactional practices rising, litigation falling
Litigation has traditionally been the largest practice for major firms. But in recent years, litigation practices have been slowly losing ground and transactional practices have risen to compensate. A new report from Peer Monitor finds that corporate, M&A, tax and real estate work has consistently outperformed litigation practices for the past two years. In fact, …
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 – …
