Confidence in the state of the legal industry remained relatively steady for law firm managing partners in the second quarter, but their outlook on revenues and the overall economy dampened from the first quarter, according to the latest survey by the Citi Private Bank Law Firm Group, released Wednesday.
Slightly increased optimism about profit growth was driven more by expectations of improved expense control than of projected revenue increases, the survey found. At the same time, there were bigger differences in projections among individual law firms, suggesting that some were doing much better financially than others.
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