DEFINITION
North American Industry Classification System (NAICS)

Replaced the Standard Industrial Classification (SIC) system in 1997 as the industry classification system used by the statistical agencies of the United States. Under NAICS, economic units that use like processes to produce goods or services are grouped together, creating a "production-oriented" system. NAICS codes are assigned by the Economic Classification Policy Committee at the U.S. Census Bureau. For more information, see the NAICS website.

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