Law Firms See Biggest Q1 Revenue Bump Since 2008

By Aebra Coe (May 13, 2016, 2:40 PM EDT) -- Law firm revenue in the first quarter of 2016 was up 5.8 percent over the same period last year, the sector's largest jump in first quarter revenue since 2008, according to the results of a Citi Private Bank survey made public on Friday.

The nearly 6 percent jump in revenue during the first three months of the year smashed last year's 2.3 percent increase over the first quarter of 2014, a result of simultaneous increases in demand and billing rates, as well as a faster collections cycle, according to the Citi Private Bank Law Watch Quarterly Flash.

The survey results are...

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