The pace of business activity in the U.S. Midwest was adjusted higher in December in an annual revision released on Thursday.

The Institute for Supply Management-Chicago business barometer for December was revised to 60.8 from 59.1, the new orders index for December was revised to 63.3 from 60.7 and the employment index was revised to 54.3 from 51.6.

The Chicago PMI production index for last month was revised to 60.2 from 57.9 and the prices paid component was revised to 61.6 from 63.3.