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Standard Industrial Classification Code

Standard Industrial Classification Code definition - finance
A statistical classification system that is used to group companies by industry and sub-industry groups. The purpose is to make industry and governmental statistics comparable to each other. The SIC system is in the process of being replaced by a new system, the North American Industry Classification System (NAICS). The new system was developed jointly by the United States, Canada, and Mexico.

Webster's New World Finance and Investment Dictionary Copyright © 2003 by Wiley Publishing, Inc., Indianapolis, Indiana.
Used by arrangement with John Wiley & Sons, Inc.

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