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The overall demand for legal services dropped 5.9% from the same point last year, marking the largest drop in year-over-year quarterly demand since 2009, according to the Q2 peer monitor index from Thomson Reuters. But within that drop, the average rate billed jumped up 5.2%.

The report, which is a composite index derived from data collected from 160 major law firms in the United States and some international markets, gave the legal industry a score of 51, down six points from the previous quarter’s rating.

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Patrick Smith

Patrick Smith, based in New York, covers the business of law, including the ways law firms compete for clients and talent, cannabis law and marketing innovation. Reach him at [email protected] or on Twitter at @nycpatrickd

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