U.S. Granted Utility Patents Originating in Detroit-Warren-Livonia, MI (MSA)
PATENTCBSA119820 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,305.00
Year-over-Year Change
46.56%
Date Range
1/1/2000 - 1/1/2015
Summary
This economic trend measures the number of utility patents originating in the Detroit-Warren-Livonia, MI metropolitan statistical area (MSA). It provides insight into the region's innovation and technological development.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
Utility patents are a type of patent granted for new and useful inventions. Tracking the number of utility patents originating in a specific geographic area can indicate the level of innovation and technological activity in that region.
Methodology
The data is collected and reported by the U.S. Patent and Trademark Office.
Historical Context
This metric is used by economists and policymakers to assess the innovative capacity and competitiveness of regional economies.
Key Facts
- The Detroit-Warren-Livonia, MI MSA is a major center of innovation and technological development.
- Utility patents measure new and useful inventions, not just design or plant patents.
- Tracking patent trends can provide insights into a region's economic competitiveness.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of utility patents originating in the Detroit-Warren-Livonia, MI metropolitan statistical area (MSA). Utility patents are a type of patent granted for new and useful inventions.
Q: Why is this trend relevant for users or analysts?
A: Tracking the number of utility patents in a specific geographic area can provide insights into the level of innovation and technological development in that region, which is an important indicator of economic competitiveness.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Patent and Trademark Office.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this metric to assess the innovative capacity and competitiveness of regional economies, which can inform economic development strategies and policies.
Q: Are there update delays or limitations?
A: The data is subject to the reporting and publication schedules of the U.S. Patent and Trademark Office, which may result in some delay between the time a patent is granted and when it is reflected in the data.
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Citation
U.S. Federal Reserve, U.S. Granted Utility Patents Originating in Detroit-Warren-Livonia, MI (MSA) (PATENTCBSA119820), retrieved from FRED.