What Does SIC Stand For?

SIC stands for Standard Industrial Classification

The Standard Industrial Classification (SIC) is a system used to categorize industries by a four-digit code based on their primary economic activities. Developed to facilitate the collection, analysis, and comparison of statistical data related to the economy, the SIC system provides an organized framework for classifying establishments, enabling government agencies and researchers to assess industry trends and conditions effectively. While it has been largely replaced by the North American Industry Classification System (NAICS) in many applications, SIC codes remain relevant for historical data analysis and certain regulatory processes.

Other Meanings for SIC