UK Legal Industry Turnover Growth Plummeted to Four-Year Low in Q1
The Office of National Statistics figures include the last few weeks of March when COVID-19 began to impact the economy.
May 13, 2020 at 08:48 AM
2 minute read
Total revenue growth for the U.K. legal industry dropped to its lowest quarterly figure in four years during the first three months of 2020, according to new research.
The rate of combined turnover growth fell by 6.6% to £9.34 billion between Q4 2019 and Q1 2020, according to figures from the Office of National Statistics compiled by litigation funder Augusta Ventures. Its previous lowest point was in 2016 Q1 when it dropped 6.9% to £7.83 billion.
The statistics cover the final weeks of March, when the COVID-19 pandemic caused the U.K. to go into lockdown and began to impact the economy.
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