Legal Industry Sees Costs Rise, Low Demand In Q3

Law360, New York (October 28, 2011, 7:24 PM EDT) -- The legal industry hit a rut in the third quarter of 2011 with demand for services slowing at the same time expenses reached a two-year high, according to the Hildebrandt Institute's Peer Monitor Index report released Friday.

The PMI, which used law firms' productivity, hiring, demand and billing rates to measure the legal industry's profitability, reported that while demand strengthened 0.8 percent this quarter, it was the lowest growth rate of the year.

At the same time, direct expenses have jumped 5.1 percent in the third...
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