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Count on the leaders of America’s biggest law firms to lead the pep rally. The heads of Am Law 200 firms have been bullish about the year ahead since we began surveying them annually in 2003. This time, they are even more so: Ninety-one percent of respondents say they are optimistic about their firms’ future. It’s the first time more than 90 percent of those surveyed gave that response. Firm leaders also say they expect growth in most of the leading indicators — firm revenues, profits per partner, billing rates and head count.

Enthusiasm about the economy as a whole was a little more muted. The largest group of respondents — about 77 percent — predict that the U.S. economy will grow only slightly in 2007, and 71 percent say they expect deal flow to increase only moderately.

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