Pennsylvania law firms were able to raise rates by more than any other region in the country in the first quarter, but that didn’t result in an increase in revenue thanks to rising expenses and lower demand, according to a flash report by Citi Private Bank Law Firm Group.
The outlook into the second quarter, however, looks brighter as inventory is building up. But the question remains as to whether 2012 will prove similar to 2011 in that the year starts off strong and fizzles out in the third and fourth quarters.
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