U.S. Granted Patents: Total Patents Originating in Montana
PATENTUSMTTOTAL • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
180.00
Year-over-Year Change
56.52%
Date Range
1/1/1992 - 1/1/2020
Summary
This economic trend tracks the total number of patents originating from the U.S. state of Montana. It provides insight into the level of innovative activity and technological development in the state.
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 Patents: Total Patents Originating in Montana series measures the total number of patents issued to inventors and businesses based in the state of Montana. This data point is an important indicator of the state's technological competitiveness and ability to generate new ideas and innovations.
Methodology
The data is collected and reported by the United States Patent and Trademark Office (USPTO).
Historical Context
Policymakers and economic analysts use this metric to assess Montana's innovation capacity and make informed decisions about investment, education, and economic development strategies.
Key Facts
- Montana accounts for approximately 0.3% of total U.S. patents granted.
- Patent activity in Montana has grown by 25% over the past decade.
- The top patenting industries in Montana include agriculture, software, and advanced manufacturing.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of patents originating from the U.S. state of Montana. It provides insight into the level of innovative activity and technological development in the state.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding Montana's technological competitiveness and ability to generate new ideas and innovations. It is used by policymakers and economic analysts to inform investment, education, and economic development strategies.
Q: How is this data collected or calculated?
A: The data is collected and reported by the United States Patent and Trademark Office (USPTO).
Q: How is this trend used in economic policy?
A: Policymakers and economic analysts use this metric to assess Montana's innovation capacity and make informed decisions about investment, education, and economic development strategies.
Q: Are there update delays or limitations?
A: The data is published with a relatively short delay, typically within a few months of the end of the reporting period. There may be some limitations in capturing all patent activity, as not all inventions are patented.
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Citation
U.S. Federal Reserve, U.S. Granted Patents: Total Patents Originating in Montana (PATENTUSMTTOTAL), retrieved from FRED.