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Perspectives

Law Firm Leaders Confidence Index 2H 2019

By Citi Private Bank,

July 17, 2019Posted InLaw Firm Group

We are pleased to announce the release of Citi Private Bank's Law Firm Leaders Confidence Index Survey 2H 2019, which captures the outlook of law firm leaders on the economy and their law firms. 

Key findings include:

  • Overall confidence levels dipped marginally as law firm leaders projected out the second half 2019
  • Confidence in both the US and global economies improved slightly, though remain low, and concerns particularly about the global economy remain
  • Demand projections remain relatively robust, but moderated from first half projections
  • Slightly higher confidence in revenue growth aided by expectations that discounting pressure will continue to abate
  • Relative to revenue growth, lower levels of confidence in net income growth suggest that firms expect expense increases to place pressure on profit margins
  • Law firm leaders continue to forecast headcount growth, but have lowered their projections

The Law Firm Leaders Confidence Index Survey was conducted in April 2019 and captures the outlook for the second half of 2019, based on responses from the Managing Partners, Chairs, Executive Directors, COOs and CFOs of 161 law firms (33 Am Law 50, 28 Am Law 51-100, 44 Am Law 2nd 100, and 56 niche/smaller).

For more information about Citi Private Bank's Law Firm Leaders Confidence Index Survey, please contact us.