Law firms saw anemic growth in the first half of 2013, with minimal gains in gross revenue stemming from higher billing rates rather than more work coming in the door, according to a survey released last week from Wells Fargo Private Bank's Legal Specialty Group.
The bank polled 120 firms—half in The Am Law 100, and the rest regional firms or those falling in the Am Law Second Hundred—to see how they fared from January to June compared with the same period in 2012. On average, gross revenue rose 1.5 percent, the survey found, though average hours per lawyer fell 2.5 percent.
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