Standard & Poor’s and Morgan Stanley Capital International will launch a new global industry classification standard by July 1, said Elliott Shurgin, S&P vice president of index products and services.
The new classification will comprise 10 economic sectors instead of the 11 currently used by S&P. Transportation will become an industry group within the industrials sector. Among other changes: consumer cyclicals will be changed to consumer discretionary; new retailing/Internet/catalog industry groups will be added; a new media industry group including advertising, broadcasting, movies and publishing subindustries will be added; and restaurants will be moved from consumer staples to consumer discretionary, aligned with casinos, hotels and leisure facilities.
‘‘The old version was geared toward the U.S., while the new one will work for investors everywhere,’’ he said.
