Law Firm Rates, Demand Continue Upward Climb In 2018

Law360 (May 14, 2018, 7:49 PM EDT) -- Law firm billing rate increases and demand growth were the driving factors of revenue improvement in the first quarter of 2018, according to a law firm industry report released Monday by Citi Private Bank’s law firm group.

With rates up 4.8 percent, the segment reached its highest since the first quarter of 2008. With demand up 1.3 percent, that area landed at its highest mark since the first quarter of 2016.

"We did have some expectation that would be the case because of the way last year ended," said David Altuna, client adviser in Citi Private Bank's law firm group....

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