The report by Peer Monitor reveals that overall demand for the services of mid-size firms declined by 0.6 per cent as compared with last year. That decline was, however, considerably less than the year-over-year decline of 2.7 per cent measured at the end of last year. And there was a modest increase in demand ( 0.3 per cent) in July 2014, the second consecutive month in which positive demand growth was achieved. This improved demand picture was reflected in a noticeable uptick in average fees worked, which increased 2.2 per cent compared to a -0.7 percent decline in average fees worked, measured on a year-to-year basis at the end of 2013. Worked rates among mid-size firms continued to grow in the first half of 2014 at about the same rate as during 2013, and productivity (which has been a persistent problem for firms of all sizes) continued to lag. Source: Peer Monitor
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