International Patent Filings and Economic Downturn are Correlated

WIPO observed that the number of patent filings under the Patent Cooperation Treaty (PCT) in 2009 was significantly lower that the preceding year.
Here is what WIPO observed in details.
This is probably because the economic downturn that has affected both the inventive activity (less resources for R&D) and the IP protection strategy adopted by firms.
It is arguable than many firms and small inventors preferred a local approach to patent filings, perhaps envisioning that global protection might make sense only at a later stage.