Big Law has still taken hits in demand in the last few months. But the picture has improved since the early summer, and many firms are positioned to be “more profitable than ever,” according to a new report.

Demand for legal services fell by 2.4% during the third quarter, compared with the same time period last year, according to the latest report from Thomson Reuters Peer Monitor Index, released Monday. That’s still better than the 5.9% drop in the second quarter—the largest drop in year-over-year quarterly demand since 2009.

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