North American Industry Classification System
It has largely replaced the older Standard Industrial Classification (SIC) system, except in some government agencies, such as the U.S. Securities and Exchange Commission (SEC).NAICS does not offer guidance on organizing enterprises (companies) composed of multiple establishments.The NAICS numbering system employs a five or six-digit code at the most detailed industry level.NAICS is a collaborative effort by Mexico's Instituto Nacional de Estadística y Geografía (INEGI), Statistics Canada, and the United States Office of Management and Budget (OMB), through its Economic Classification Policy Committee (ECPC), staffed by the Bureau of Economic Analysis (BEA), the Bureau of Labor Statistics (BLS), and the Census Bureau.With the first version, released in 1997, NAICS offered enhanced service sector coverage relative to the SIC.