With legal industry revenue and demand perking up and expense pressure easing over the last quarter, law firms might expect to see mid-single-digit revenue gains and “modest” profit growth on average by the end of the year, according to a new analysis.

Citi’s Global Wealth at Work Law Firm Group found revenue growth accelerated to 4.8% in its nine-month survey of law firms, after clocking in at 4% through the halfway point of 2023.