Management and Budget Office May 12, 2010 – Federal Register Recent Federal Regulation Documents

Under 31 U.S.C. 1104(d) and 44 U.S.C. 3504(e), the Office of Management and Budget (OMB) seeks public comment on the advisability of adopting the Economic Classification Policy Committee's (ECPC) recommendations for North American Industry Classification System (NAICS) updates for 2012. NAICS is a system for classifying establishments (individual business locations) by type of economic activity. Mexico's Instituto Nacional de Estad[iacute]stica y Geograf[iacute]a (INEGI), Statistics Canada, and the United States Office of Management and Budget, through its Economic Classification Policy Committee, collaborated on NAICS to make the industry statistics produced by the three countries comparable. OMB's Economic Classification Policy Committee recommends an update of the industry classification system to clarify existing industry definitions and content, recognize new and emerging industries, and correct errors and omissions.