North American Industry Classification System: The New and Improved SIC

From: Weekly Corporate Growth Report | Date: September 7, 1998| Author: Anonymous | Copyright information

Created by the Office of Management and Budget (OMB) and the US Census Bureau in 1997, the North American Industry Classification System (NAICS) is the first-ever classification system for all of North America. Developed jointly by the United States, Canada, and Mexico, NAICS provides new comparability in statistics about business activity across North America. It also replaces the decades-old SIC (Standard Industrial Classification) codes that were last updated in 1987.

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