U.S. Granted Utility Patents Originating in Grand Rapids-Wyoming, MI (MSA)
PATENTCBSA124340 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
217.00
Year-over-Year Change
19.89%
Date Range
1/1/2000 - 1/1/2015
Summary
This economic trend tracks the number of utility patents granted to inventors originating from the Grand Rapids-Wyoming, MI metropolitan statistical area (MSA). Utility patents are a key indicator of innovation and technological progress in a regional economy.
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
The U.S. Granted Utility Patents Originating in Grand Rapids-Wyoming, MI (MSA) data series measures the volume of successful patent applications from this geographic area. Patents are a widely used metric to gauge the innovative capacity and technological dynamism of a local economy.
Methodology
The data is collected by the U.S. Patent and Trademark Office (USPTO) and published through the Federal Reserve Economic Data (FRED) system.
Historical Context
Economists and policymakers use this patent data to analyze the innovation output and competitiveness of regional markets.
Key Facts
- Patents are a legal right granted to protect new inventions.
- The Grand Rapids-Wyoming, MI MSA is a major manufacturing hub.
- Patent data helps track the commercial viability of new technologies.
FAQs
Q: What does this economic trend measure?
A: This trend tracks the number of utility patents granted to inventors originating from the Grand Rapids-Wyoming, MI metropolitan statistical area (MSA).
Q: Why is this trend relevant for users or analysts?
A: Patent data is a key indicator of regional innovation and technological progress, which are important factors for economic competitiveness and growth.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Patent and Trademark Office (USPTO) and published through the Federal Reserve Economic Data (FRED) system.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this patent data to analyze the innovation output and competitiveness of the Grand Rapids-Wyoming regional market.
Q: Are there update delays or limitations?
A: The patent data is published with a lag, and may not capture all granted patents in a given period.
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Citation
U.S. Federal Reserve, U.S. Granted Utility Patents Originating in Grand Rapids-Wyoming, MI (MSA) (PATENTCBSA124340), retrieved from FRED.