Answered By: Colleen Lougen Last Updated: Oct 06, 2016 Views: 92
The North American Industry Classification System (NAICS) is the hierarchical, numerical system used by the Federal government to classify businesses in order to collect, analyze, and publish statistical data related to the U.S. business economy. While it replaced the Standard Industrial Classification (SIC) System in 1997, some resources still use the old SIC codes. Separate codes exist for manufacturers, retailers, and wholesalers.
The North American Industry Classification System has been used since the 2002 Economic Census. If you are comparing pre-NAICS data and need the former SIC code, use the Bridge between NACIS and SIC to find the proper code.