Standard Industrial Classification


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Related to Standard Industrial Classification: North American Industry Classification System

Standard Industrial Classification (SIC)

A code system that designates a unique business activity classified by industry.

Standard Industrial Classification

A system of four digit codes used in business to classify the industry to which a company belongs. The SIC was created by the U.S. government in 1937 to facilitate communication within and between businesses and industries. For the most part, the SIC was replaced by the six digit NAICS in 1997, but the SEC still uses the SIC. For example, an oil and gas exploration company might file with the SEC under the code 1382.

Standard Industrial Classification (SIC)

a system which codifies and measures groups of economic activity at various levels of aggregation and disaggregation. In the UK, the Standard Industrial Classification comprises 10 major divisions, 60 classes, 222 groups and 334 activities. Activities, or their equivalent ‘industries’ (see INDUSTRY), are derived on the basis of their supply characteristics, in particular the use of common raw materials and processes of manufacture. Such a classification provides a useful source of information on industry structure and statistical details of employment, output and investment by the industrial sector. However, for purposes of MARKETING strategy, SIC data usually needs to be reinterpreted in order to provide more meaningful specifications of MARKETS, defined in terms of groups of products which are regarded by buyers as close substitute products. To illustrate, glass jars and metal cans are assigned to different industries by the SIC (Division 2, Activity ‘glass containers’, Division 3 ‘packaging products of metal’, respectively), but would be regarded by a user of packaging materials such as a coffee manufacturer as substitute products. See STRUCTURE OF INDUSTRY.

standard industrial classification

see INDUSTRIAL CLASSIFICATION.
References in periodicals archive ?
Statistical Office of the United Nations International Standard Industrial Classification of all Economic Activities, Statistical Papers, Series M, No.
We'll also show them how to utilize the Standard Industrial Classification code developed by the federal government for use in classifying establishments by the type of activity they are engaged in.
Glass: Manufacture of glass and glass products (ISIC: 2610) ISIC 26: Manufacture of other non-metallic mineral products ISIC Code: International Standard Industrial Classification of All Economic Activities (ISIC), Revision 3.
The program will also link the financial statements of companies and institutions with International Standard Industrial Classifications, adopted by the United Nations, which will enable a financial analysis of economic sectors and activities of various sectors.
OSHA's list of 40 Standard Industrial Classifications (SICs) associated with high rates of amputation includes the following:
New orders posted in March for products made in the metalworking Standard Industrial Classifications gained 4% over February to $184.
The six 2-digit-level Standard Industrial Classifications that make up the metalworking marketplace booked $176.
To qualify for the Free Land Incentive Program, companies must demonstrate that they fall within the County's target market industries, meet the predetermined set of criteria and match one of the Standard Industrial Classifications (SIC) identified as a target market industry by Calvert County.
Seasonally adjusted new orders for goods produced by the so-called "metalworking" group of standard industrial classifications (SICs) grew by a strong 3.
Things such as full product descriptions, toll-free numbers, employment size, annual sales, date of establishment, new business designations, primary and secondary Standard Industrial Classifications codes, plant square footage, import/export involvement, and headquarters data.
Of the six 2-digit-level Standard Industrial Classifications (SICs) that make up the metalworking industries, only Electrical Machinery (SIC 36) and Miscellaneous (SIC 39) posted higher orders in February.
The pace at which factories in the metalworking manufacturing standard industrial classifications (SICs) worked in December, compared to their theoretical maximum capacity, dropped two-tenths of a percentage point, according to the Fed.

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