Texas Firms See Greatest Drop in Demand in First Half of 2016
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While demand at law firms grew by 0.3 percent at U.S. firms during the first half of 2016, the story was much darker in Texas, where demand dropped by 7.1 percent, according to a new report from Citi Private Bank’s Law Firm Group.
The drop in demand in Texas for the first six months of the year was the worst among 11 regions the Citi group surveyed, said John Wilmouth, a senior client adviser.
Wilmouth said demand declined so hugely in Texas during the first half of 2016 partly because the Texas demand is compared with a “pretty good” first half of 2015 for Texas, when demand was up 3.7 percent when compared with 2014. But he said that “without knowing what’s going on behind the numbers,” it’s hard to say what other factors may have led to the lower demand at the Texas firms in the survey.
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