The optimistic outlook that fueled many firm leaders in the first few years coming out of the pandemic is turning into one of caution.

According to Pennsylvania’s 2023 Managing Partner Survey, growth has not been as robust as it was in recent years, and as a result fewer firm leaders say they are expecting to see significant merger activity, revenue growth or law firm expansions in the coming year, indicating that managing partners are more interested these days in holding the line.

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