Credit: Nuthawut/AdobeStock Law Firms Could Post 'One of the Strongest Years We See'
Citi's Global Wealth at Work Law Firm Group found the industry continued its momentum from the first quarter.
August 19, 2024 at 07:11 PM
4 minute read
Law Firm Profitability
What You Need to Know
- According to Citi's Global Wealth at Work Law Firm Group, demand across the industry was up 2.9%, while productivity was up 2.1% and revenue was up 11.4% during the first half of 2024.
- 'I think this will be one of the strongest years we see, in terms of law firm performance,' the Citi group's head of advisory services said in an interview.
- Law firms also notched double-digit inventory growth, the group found.
Law firms are on track to post "one of the strongest years we see" in 2024, according to a report this week, after notching demand and productivity growth as well as double-digit revenue growth during the first six months of the year.
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