The
legal
industry
had
an
“unexpectedly
prosperous”
second
quarter,
as
an
uptick
in
countercyclical
practices
like
litigation
offset
a
slowdown
in
M&A
demand
—
and
smaller
firms
gained
ground
on
the
Am
Law
100
—
according
to
a
new
report
by
Thomson
Reuters.
The
Law
Firm
Financial
Index’s
quarterly
update,
dubbed
“The
Eye
of
the
Hurricane,”
states
that
the
average
demand
increased
1.6%
for
law
firms,
and
worked
rates
were
up
7.4%.
But,
as
the
report
states,
the
“picture
becomes
even
more
complicated
when
we
look
at
each
law
firm
segment.”
The
Am
Law
100
saw
a
0.6%
decline
in
demand
growth,
with
the
downturn
most
notable
in
their
corporate
practices.
Meanwhile,
the
Second
Hundred
and
midsize
firms
“greatly
accelerated
their
demand
performance
across
most
practices,”
according
to
the
report.
Thomson
Reuters
notes
that
these
metrics
indicate
a
“potential
shift
in
client
preferences
towards
more
specialized
or
cost-effective
legal
solutions.”
Q2
2025
LFFI:
The
Eye
of
the
Hurricane
[Thomson
Reuters]
Jeremy
Barker
is
the
director
of
content
marketing
for
Breaking
Media.
Feel
free
to email
him with
questions
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