Data released by the FBI’s National Instant Criminal Background Check System (NICS) shows 942,556 checks were reported in January, a 5.3 percent increase from the 894,608 reported in January 2007. Adjusted state figures show background checks up by 3.4 percent year-over-year. In 2007, NICS reported a total of 11,177,335 background checks, an increase of 4.1 percent compared to 2006. The increase in background checks coincides with an up-tick in excise taxes reported by firearms and ammunition manufacturers, another key economic indicator for the firearms industry.