New York law firms this year have seen a better demand picture than peers across the country, but they also have some reason to be concerned, including trailing revenue growth and increasing expenses, according to third-quarter bank reports about the legal market in the Empire State.

Overall, the nine-month results from Citi Global Wealth at Work Law Firm Group and Wells Fargo Legal Specialty Group show the legal industry increasing revenue as a whole by the third quarter, partly due to rising billing rates. But firms’ overall profits will depend on how much they can collect on their bills.

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