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Positive economic news has increased in recent months across many of the developed economies including the U.S., U.K., part of the Eurozone and Japan, fuelling increased optimism for 2014 and 2015. However, emerging market growth has decelerated, notably in China and Latin America, providing firms with stability in their core business, but greater uncertainty in high-growth areas.
With global growth prospects volatile and continuing to diverge, law firms will encounter diverging market conditions across the globe over the next 12 months. That split in leverage, though, will begin to coalesce in the latter part of 2014 and early 2015 when law firms are projected to encounter tighter real estate markets, resulting in heightened landlord confidence and decreased leverage in lease negotiations.
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Thursday, October 24, 2013