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Economic observatory / federal merger review

U.S. merger industry composition

Compare FY2023 and FY2024 acquired-entity classifications in the HSR reports. Industry composition and procedural review stages describe different aspects of the reported transactions.

Adjusted transactions
1,973
FY2024
Published industries
83
82 coded + unavailable
Second Requests
59
30 FTC / 29 DOJ
Intra-industry
80
report-defined flag

FY2024 / Table XI / acquired entities

Adjusted transactions by 3-digit NAICS

Table edition
All acquired-entity sectors1,973 transactions

83 nonzero / 83 visible rows

Sector composition

Broad NAICS sectors

20 sectors / exact transaction shares

Adjacent official releases

Broad-sector release shift

FY2023 to FY2024 / common 25% scale
Adjusted volume
+238
1,735 to 1,973
Largest sector rise
+2.4 pp
Professional, scientific, and technical services
Largest sector fall
-1.6 pp
Wholesale trade
Published row movers
+2.4 / -2.0 pp
FY2024 Table XI / NAICS 541 and 325
FY2023FY2024Share of adjusted transactions

Classification custody

Taxonomy continuity ledger

Exact release labels retained / no synthetic industry crosswalk
Shared codes
75
64 same-label identities
FY2023 only
4
published predecessor codes
FY2024 only
8
published successor codes
Relabeled codes
11
same code / different label

FY2023 only

  • 111Crop Production
  • 442Furniture and Home Furnishing Stores
  • 453Miscellaneous Store Retailers
  • 551Management Companies and Enterprises

FY2024 only

  • 112Animal Production and Aquaculture
  • 314Textile Product Mills
  • 443Electronics and Appliance Stores
  • 451Sporting Goods, Hobby, Musical Instrument, and Book Stores
  • 482Railroad Transportation
  • 514Information Services and Data Processing Services (Old)
  • 516Internet Publishing and Broadcasting (Old)
  • 926Administration of Economic Programs

Same code, different published label

  1. 311FY2023Food and Kindred ProductsFY2024Food Manufacturing
  2. 326FY2023Plastics and Rubber ManufacturingFY2024Plastics and Rubber Products Manufacturing
  3. 425FY2023Wholesale Electric Markets and Agent and BrokersFY2024Wholesale Electronic Markets and Agents and Brokers
  4. 444FY2023Electronics and Appliance StoresFY2024Building Materials and Garden Equipment and Supplies Dealers
  5. 485FY2023Transit and Ground TransportationFY2024Transit and Ground Passenger Transportation
  6. 492FY2023CouriersFY2024Couriers and Messengers
  7. 512FY2023Motion Pictures and Sound Recording IndustriesFY2024Motion Picture and Sound Recording Industries
  8. 518FY2023Internet Service Providers, Web Search Portals, and Data Processing ServicesFY2024Data Processing, Hosting, and Related Services
  9. 623FY2023Nursing Care FacilitiesFY2024Nursing and Residential Care Facilities
  10. 711FY2023Performing Arts, Spector Sports, and Related IndustriesFY2024Performing Arts, Spectator Sports, and Related Industries
  11. 811FY2023Repairs and MaintenanceFY2024Repair and Maintenance

Release-to-release sector shifts aggregate each edition's exact published rows inside stable broad NAICS sectors. They are descriptive changes in the federal review pipeline, not merger rates, market-power measures, or causal estimates. Industry codes and labels that enter, exit, or change between tables remain explicit rather than being silently crosswalked.

Exact lookup

Acquired-entity industry ledger

FY2024 HSR Table XI rows, sorted by the active measure
NAICSIndustrySectorTransactionsShareChangeClearance FTCClearance DOJClearance totalSecond FTCSecond DOJSecond totalIntra-industry
Professional, Scientific, and Technical Services5425913.1%+2.4 pp97161016
Publishing Industries (except Internet)511447.3%+0.9 pp55102136
Merchant Wholesalers, Durable Goods421115.6%+0.1 pp3470333
Not Available000874.4%+0.9 pp8081010
Insurance Carriers and Related Activities52743.8%+0.5 pp0442351
Merchant Wholesalers, Nondurable Goods42673.4%-1.7 pp1232022
Utilities22562.8%+0.1 pp5160004
Chemical Manufacturing31-33562.8%-2.0 pp6172020
Oil and Gas Extraction21552.8%+0.3 pp1301340411
Data Processing, Hosting, and Related Services51542.7%+0.6 pp0000002
Securities, Commodity Contracts, and Other Financial Investments and Related Activities52492.5%-1.6 pp2350005
Computer and Electronic Product Manufacturing31-33472.4%+0.2 pp2680111
Administrative and Support Services56472.4%-0.5 pp0550110
Food Manufacturing31-33462.3%0.0 pp0330111
Transportation Equipment Manufacturing31-33422.1%+0.6 pp2351231
Machinery Manufacturing31-33412.1%+0.1 pp0000002
Credit Intermediation and Related Activities52351.8%-0.1 pp0330001
Specialty Trade Contractors23341.7%+0.2 pp1010001
Ambulatory Health Care Services62331.7%-0.2 pp3032020
Miscellaneous Manufacturing31-33301.5%+0.1 pp91102020
Fabricated Metal Product Manufacturing31-33281.4%+0.4 pp0000002
General Merchandise Stores44-45241.2%+1.0 pp0001010
Hospitals62241.2%-0.1 pp4042024
Electrical Equipment, Appliance, and Component Manufacturing31-33231.2%+0.6 pp0110001
Other Information Services51231.2%+0.2 pp1011010
Lessors of Nonfinancial Intangible Assets (except Copyrighted Works)53231.2%+0.3 pp5162021
Support Activities for Transportation48-49221.1%0.0 pp0110000
Telecommunications51211.1%-0.3 pp0440334
Petroleum and Coal Products Manufacturing31-33191.0%+0.6 pp1012020
Nonstore Retailers44-45180.9%-0.4 pp1010000
Real Estate53180.9%+0.3 pp3141010
Pipeline Transportation48-49160.8%+0.1 pp1010000
Waste Management and Remediation Services56160.8%-0.7 pp0110110
Plastics and Rubber Products Manufacturing31-33150.8%+0.1 pp1010002
Rental and Leasing Services53150.8%-0.2 pp4041010
Heavy and Civil Engineering Construction23130.7%0.0 pp0110000
Motion Picture and Sound Recording Industries51130.7%+0.1 pp0110000
Support Activities for Mining21120.6%-0.1 pp0220110
Motor Vehicle and Parts Dealers44-45120.6%-0.7 pp0000001
Mining (except Oil and Gas)21110.6%-0.1 pp1010003
Nonmetallic Mineral Product Manufacturing31-33110.6%0.0 pp3030110
Educational Services61110.6%-0.2 pp0000110
Performing Arts, Spectator Sports, and Related Industries71110.6%-0.1 pp0110000
Amusement, Gambling, and Recreation Industries71110.6%-0.3 pp0330222
Food Services and Drinking Places72110.6%-0.1 pp0000110
Repair and Maintenance81110.6%-0.3 pp1010000
Air Transportation48-49100.5%+0.2 pp0330220
Truck Transportation48-49100.5%-0.4 pp0000000
Accommodation72100.5%+0.4 pp0000002
Beverage and Tobacco Product Manufacturing31-3390.5%-0.1 pp1010003
Paper Manufacturing31-3390.5%-0.1 pp0440001
Primary Metal Manufacturing31-3390.5%-0.1 pp0220111
Clothing and Clothing Accessories Stores44-4590.5%0.0 pp0001010
Water Transportation48-4990.5%+0.2 pp0000110
Funds, Trusts, and Other Financial Vehicles5290.5%+0.3 pp0000002
Printing and Related Support Activities31-3380.4%+0.2 pp0110000
Health and Personal Care Stores44-4580.4%-0.4 pp5050000
Gasoline Stations44-4580.4%-0.2 pp2020003
Construction of Buildings2370.4%+0.1 pp0000000
Wood Product Manufacturing31-3360.3%-0.3 pp0110000
Broadcasting (except Internet)5160.3%-0.2 pp0110000
Personal and Laundry Services8160.3%0.0 pp0220111
Wholesale Electronic Markets and Agents and Brokers4240.2%0.0 pp0000000
Social Assistance6240.2%0.0 pp0000000
Textile Mills31-3330.2%+0.1 pp0000000
Apparel Manufacturing31-3330.2%+0.1 pp0000000
Furniture and Related Product Manufacturing31-3330.2%+0.1 pp0000000
Food and Beverage Stores44-4530.2%0.0 pp0000000
Couriers and Messengers48-4930.2%+0.1 pp0000000
Warehousing and Storage48-4930.2%-0.4 pp0000000
Animal Production and Aquaculture1120.1%+0.1 pp0220110
Building Materials and Garden Equipment and Supplies Dealers44-4520.1%-0.1 pp0000000
Support Activities for Agriculture and Forestry1110.1%0.0 pp0000110
Textile Product Mills31-3310.1%+0.1 pp0000000
Electronics and Appliance Stores44-4510.1%+0.1 pp0000000
Sporting Goods, Hobby, Musical Instrument, and Book Stores44-4510.1%+0.1 pp0000000
Railroad Transportation48-4910.1%+0.1 pp0000000
Transit and Ground Passenger Transportation48-4910.1%-0.2 pp0000000
Information Services and Data Processing Services (Old)5110.1%+0.1 pp0000000
Internet Publishing and Broadcasting (Old)5110.1%+0.1 pp0000000
Nursing and Residential Care Facilities6210.1%-0.2 pp0000000
Religious, Grantmaking, Civic, Professional, and Similar Organizations8110.1%0.0 pp0000000
Administration of Economic Programs9210.1%+0.1 pp0000000

The FY2023 and FY2024 acquired-entity tables classify adjusted HSR transactions by 3-digit NAICS. They describe the federal review pipeline, not industry-wide merger rates, market definitions, competitive harm, or agency performance. Published row shares are independently rounded to one decimal place and therefore sum to 100.3% and 101.5%, respectively, while each official table total remains 100.0%.

An intra-industry transaction means the acquiring and acquired persons both reported revenue in the same 3-digit NAICS code. It does not establish a horizontal overlap, relevant antitrust market, or competitive effect.