According to a new Q2 report from Thomson Reuters, law firms are exhibiting robust growth, driven by increased demand in both litigation and transactional practices. The Am Law 100 firms continue to see significant growth in transactional work, while the Second Hundred firms have found a balanced growth in both countercyclical and corporate work. The report highlights a 2.4% rise in overall demand, led by a 3.4% increase in litigation and a 2.2% rise in corporate demand. Productivity and billing rates have also improved, with worked billing rates reaching a record 6.6%. Despite a slight dip in mergers and acquisitions work, other transactions and countercyclical practices like bankruptcy and labor and employment have shown upward trends. Overall, law firms are experiencing one of the highest scores ever in the total industry index, indicating a more stable and sustainable growth compared to the transactional boom of 2020-21.