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The Global Industry Classification Standard (GICS) is an industry taxonomy developed in 1999 by MSCI and Standard & Poor's (S&P) for use by the global financial community. The GICS structure consists of 11 sectors, 25 industry groups, 74 industries and 163 sub-industries [1] into which S&P has categorized all major public companies.
Economic activities can be classified in a variety of ways. At the top level, they are often classified according to the three-sector theory into sectors: primary (extraction and agriculture), secondary (manufacturing), and tertiary (services).
Nominal GDP sector composition, 2015 (in millions of 2005 USD): [5] [6] 2005 prices are used similarly to 2010 constant prices in which they provide economic statistics where inflation is accounted for.
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There is also the Global Industry Classification Standard (GICS), which is used to assign companies to specific economic sectors and industry groups. [6] There are many industry classifications in the modern economy, which can be grouped into larger categories called economic sectors. Sectors are broader than industry classifications.
The extended bull market fueled by expansive growth in the technology sector may have been the catalyst for change as the reclassification of the sector takes place today, which could mean a bout ...
Primary sector of the economy (the raw materials industry) Secondary sector of the economy (manufacturing and construction) Tertiary sector of the economy (the "service industry") Quaternary sector of the economy (information services) Quinary sector of the economy (humanitarian services)
An economic taxonomy is a system of classification of economic activity, including products, companies and industries. Some economists believe that the study of economic policy demands the use of a taxonomic/classificatory approach.