Back in May, Citi Private Bank’s law firm group reported an extremely strong first quarter—and suggested that the industry could expect the pistons to keep firing into the next quarter.
Well, the first second quarter results are in, via Thomson Reuters’ Peer Monitor, and they don’t look good: Law firms were “blindsided,” Peer Monitor said, by a drop in demand across nearly all practices. The 0.9 percent decline breaks a streak of nine consecutive quarters of increased demand, the longest such streak since the 2008-9 financial crisis, Peer Montitor said.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]