Law Firm Leaders Turn Bearish on U.S. Economy in 2020

Law firm leaders have lost confidence in the U.S. and global economy, but that hasn’t translated into a gloom-and-doom outlook for their own businesses, according to a new survey released by Citi Private Bank.

The index of managing partners’ confidence in the U.S. economy dipped 18 points, bringing it into negative territory. The law firm leaders were even more pessimistic about the global economy.

But they expect their own businesses to fare better than the broader economy. The latest edition of the biannual survey showed only minimal downward revisions on expectations for revenue, demand, realization, and net income. And the ...