The North American Industry Classification System

1614 Words Nov 29th, 2016 7 Pages
The North American Industry Classification System (NAICS) is the standard used by Federal statistical agencies in classifying business establishments for the purpose of collecting, analyzing, and publishing statistical data related to the U.S. business economy. (North American Industry Classification System, n.d.). NAICS is a 2 through 6 digit hierarchical classification system, offering five levels of detail. Each digit in the code is part of a series of progressively narrower categories, and the more digits in the code signify greater classification detail. The first two digits name the economic sector, the third digit designates the subsector, the fourth digit designates the industry group, the fifth digit designates the NAICS industry, and the sixth digit designates the national industry. The 5-digit NAICS code is the level at which there is comparability in code and definitions for most of the NAICS sectors across the three countries participating in NAICS (the United States, Canada, and Mexico). The 6-digit level allows for the United States, Canada, and Mexico each to have country-specific detail. A complete and valid NAICS code has six digits (North American Industry Classification System, n.d.).
D. G. Yuengling and Son NAICS code for brewing is 312120. The NAICS code can be broken down by: 31 – manufacturing, 312 – beverage and tobacco product manufacturing, 31212 – breweries, and 312120 – large breweries (Industry Statistics Portal, n.d.). The NAICS for breweries…
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