Standard Industrial Classification
From Open Risk Manual
Definition
Standard Industrial Classification. System for grouping economic activities using the operating establishment as the basic production unit.
The SIC system assigns each establishment an industry code on the basis of its primary activity, which is the establishment's principal product or group of products produced or distributed or services rendered.
Beginning with the 1997 benchmark, the SIC was replaced by NAICS as the basis for I-O industry and commodity classification.[1]
References
- ↑ Concepts and Methods of the US Input-Output Accounts. K.J.Horowitz, M.A.Planting, 2009
