Following a significant decline in corporate spending on legal services last year and the first half of this year, businesses will once again begin increasing their law budgets in the next six months, according to a new report.

The study, conducted by Massachusetts researcher BTI Consulting, Corporate legal spending at large companies will grow nearly 5% over the next 6 months, buoying overall market growth. Even with the second half rebound, however, BTI said it expects a 1.4 percent contraction in the legal market for the year.

Leading the growth in spending will be the practice areas of regulatory compliance, employment, securities and bankruptcy/corporate restructuring law, the survey found.

"We have all read the headlines detailing drops in business spending across every category, including legal services. This study presents a big ray of sunshine in what has been a very stormy environment. The reversal of this negative spending trend will help buoy flailing legal markets and offers some hopeful news about business spending in general," said Michael B. Rynowecer, president of The BTI Consulting Group.