By Karen Sloan

(Reuters) -Large and midsized U.S. law firms enjoyed a “sharp spike” in client demand during the third quarter, setting the stage for a profitable 2025, according to a new analysis of firm financial data.

Overall demand was up 3.9% from the third quarter of 2024—the fourth-highest quarterly increase of the past 20 years and the highest outside of 2021’s rapid post-pandemic rebound, according to the Thomson Reuters Institute’s latest Law Firm Financial Index, released on Monday. The Thomson Reuters Institute and Reuters share the same parent company.

Transactional practices fueled much of the third-quarter demand surge, especially among midsized law firms, which saw transactional demand climb 6.1% over the previous year. Across firms, mergers and acquisitions demand was up

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