Historically high billing rates and strong off-cycle practices helped law firms grow revenue during the first half of the year, even as expenses rose and productivity and demand fell, according to a new report.

Big Law remains in something of a holding pattern, as “economic clouds” continue to stall big transactions and firms are continuing to absorb hits to productivity while waiting for better times, according to a midyear survey by Wells Fargo Private Bank Legal Specialty Group.

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