Most law firm leaders expect demand for their services to increase by less than 5 percent in the second half of 2016, according to a report released Thursday by Citi Private Bank’s Law Firm Group. The majority of those surveyed predicted that net income would grow, but not as much as revenue, suggesting that firms are also forecasting an increase in expenses.
Only 8 percent of the 155 law firm executives surveyed by Citi are predicting that demand, as measured by billable hours, will rise by more than 5 percent over the next six months. Twenty percent expect demand to decrease.
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