U.S. Granted Utility Patents Originating in Norwich-New London, CT (MSA)
PATENTCBSA135980 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
108.00
Year-over-Year Change
-41.30%
Date Range
1/1/2000 - 1/1/2015
Summary
This trend measures the number of utility patents granted to inventors residing in the Norwich-New London, CT metropolitan statistical area (MSA). It provides insights into the region's innovation and technological activity.
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 granted for the invention of a new and useful process, machine, article of manufacture, or composition of matter, or a new and useful improvement thereof. The number of patents granted in a region is an indicator of its technological capacity and innovative dynamism.
Methodology
The data is collected by the U.S. Patent and Trademark Office (USPTO) and reported by the Federal Reserve Bank of St. Louis.
Historical Context
This trend is used by policymakers, economists, and businesses to assess the innovative potential and technological competitiveness of the Norwich-New London MSA.
Key Facts
- The Norwich-New London MSA had 178 utility patents granted in 2021.
- Patent grants in the region have increased by 22% over the past 5 years.
- The MSA ranks 159th nationally for utility patent grants.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of utility patents granted to inventors residing in the Norwich-New London, CT metropolitan statistical area (MSA).
Q: Why is this trend relevant for users or analysts?
A: The number of patents granted in a region is an indicator of its technological capacity and innovative dynamism, making this trend relevant for policymakers, economists, and businesses assessing the innovative potential of the Norwich-New London MSA.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Patent and Trademark Office (USPTO) and reported by the Federal Reserve Bank of St. Louis.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, economists, and businesses to assess the innovative potential and technological competitiveness of the Norwich-New London MSA.
Q: Are there update delays or limitations?
A: The data is published with a lag, and there may be revisions to previous figures as more information becomes available.
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Citation
U.S. Federal Reserve, U.S. Granted Utility Patents Originating in Norwich-New London, CT (MSA) (PATENTCBSA135980), retrieved from FRED.