NAICS

North American Industry Classification System. A system of industrial classification developed and used by the United States, Canada, and Mexico for grouping establishments by similarity of production process. Beginning with the 1997 Economic Census, NAICS has replaced the 1987 SIC as the primary industry classification system used for U.S. economic statistics. NAICS features more detailed classifications for the services industries and improved classifications for the high-tech industries. (See also Economic Census.) (BEA)