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1/16/2004
NAICS Bulletin
(Continued)
New Industries Reflected in NAICS
u NAICS heralds the creation of a new information sector that pulls businesses from communications, publishing, motion picture and sound recording and online services to recognize an information-based economy.
u Previously, under SIC, corporate headquarters were not distinguished from the industry category of the product or service they produced. Now, corporate headquarters are recognized in the new Management Sector.
u Manufacturing is restructured to account for high-tech industries.
u An increase in the amount of detail overall accompanies the shift to NAICS including a further breakdown of SIC's services sector into nine new sectors.
u Eating and Drinking Places move from Retail Trade into a new category called Accommodation and Food Services.
u The difference between Retail and Wholesale Trade is now based on how each store conducts business. For example, many computer stores are reclassified from Wholesale to Retail.
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