According to the Hildebrandt International Peer Monitor Economic Index, the economic health of the legal industry has stopped declining for the first time since Q2 2008.

The survey follows demand for legal services, attorney productivity, billing rates and expenses at Biglaw and midsize firms.

Hildebrandt says the legal industry may be “stabilizing,” as the result of cost-cutting changes made by law firm management.

  

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Hildebrandt, part of Thomson Reuters, does merger consulting, with more than 50 consultants located in the United States and in London.