As Big Law firms finish out a year that saw healthy revenue and demand growth, many of their in-house counterparts have said they've already begun to cut back on their total law department spending in anticipation of an economic recession.

The reports released in the last week by Citi Private Bank's Global Law Firm Group and Altman Weil highlight what appears to be an enthusiasm gap between these two interdependent corners of the legal industry.

Citi announced this week that revenue grew by an average 5.1% in the first nine months of the year for the 190 law firms the bank surveyed. By contrast, 238 chief legal officers told Altman Weil that only a plurality of them—40%—increased their law department budgets this year.