Pennsylvania law firms are trailing nearly every other region in some key financial metrics through the first nine months of the year, with bright spots coming in the form of improved collection cycles and an increase in attorney demand.
But with demand down for all timekeepers and unbilled time down even more, the revenue increases that many firms could see in 2015 thanks to a growth in accounts receivable may not be sustainable into the early part of 2016, according to results from Citi Private Bank Law Firm Group’s survey of firms through the first three quarters of 2015.
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