Law Firm Articles

Strategy Determines Trends in No-Growth Legal Economy

Growing market share in a declining or static economy or economic sector is difficult.  Generally it requires either pirating customers from competitors or combining with them.

The US Economy

Post-recession US economic recovery is anemic, at best.  Projected GDP growth for 2011 was 2% to 3%.  Actual results were 0.4% in the first quarter and 1.3% in the second quarter.  It is likely that growth will barely top 1% for the rest of the year.

Expectations for 2012 are equally gloomy.  A recent poll of economists indicated there is a 50% chance of a slide into a double-dip recession in 2012.

Corporations are hunkered down.  There is some baseline merger and acquisition activity and there have been a few IPOs.  However, for the most part, corporations and investors are hoarding cash, not investing or hiring.  Uncertainty regarding the national debt, trade deficits and the government’s ability to function are inhibiting investment activity.

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