U.S. Granted Utility Patents Originating in Pittsburgh, PA (MSA)
PATENTCBSA138300 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
895.00
Year-over-Year Change
34.59%
Date Range
1/1/2000 - 1/1/2015
Summary
This economic trend measures the number of utility patents granted to inventors and organizations originating in the Pittsburgh, PA metropolitan statistical area (MSA). Utility patents are a key indicator of innovation and technological progress within a region.
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 Pittsburgh, PA (MSA) series tracks the volume of new inventions and innovations being developed in the Pittsburgh metro area. This metric is closely watched by economists, policymakers, and regional development officials as a barometer of the area's competitiveness and growth potential.
Methodology
The data is collected and reported by the U.S. Patent and Trademark Office.
Historical Context
Utility patent counts are used to assess the innovative capacity and technological leadership of metropolitan regions.
Key Facts
- Pittsburgh ranks among the top U.S. metro areas for utility patents.
- Patents spiked in the early 2000s as the region diversified its economy.
- The Pittsburgh MSA has a high concentration of R&D-intensive industries.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of utility patents granted to inventors and organizations based in the Pittsburgh, PA metropolitan statistical area.
Q: Why is this trend relevant for users or analysts?
A: Utility patent counts are an important indicator of innovation and technological progress within a regional economy, making this metric highly relevant for economists, policymakers, and businesses.
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: Utility patent data is used to assess the innovative capacity and technological leadership of metropolitan regions, informing economic development strategies and policies.
Q: Are there update delays or limitations?
A: There may be some delay in the availability of the latest patent data, and the statistics are limited to the Pittsburgh, PA metropolitan area.
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Citation
U.S. Federal Reserve, U.S. Granted Utility Patents Originating in Pittsburgh, PA (MSA) (PATENTCBSA138300), retrieved from FRED.