TORONTO - The Canadian dollar was higher Wednesday amid data which showed that the domestic economy ground to a halt during the second quarter. The loonie rose 0.15 of a cent to 102.38 cents US as Statistics Canada reported that gross domestic product declined by 0.1 per cent, which followed a 0.9 per cent increase in the January-March period. The agency says the drop in GDP was largely a result of a 2.1 per cent drop in exports. Energy exports in turn were down almost seven per cent, which reflected shutdown in the energy sector. Real GDP in the second quarter declined 0.4 per cent at an annualized basis after expanding 3.6 per cent in the first quarter. "The details of Q2 results were no surprise," said CIBC World Markets chief economist Avery Shenfeld. "The one plus is that June saw a 0.2 per cent rise in output, evidence of a positive turn of events heading into Q3, and we expect healthy readings for July given the improved U.S. tone that month." Traders also took in data on U.S. private sector job creation from payroll firm ADP, being released two days before the U.S. government's non-farm payrolls report. ADP said 91,000 private sector jobs were created, missing expectations of 100,000 jobs. Expectations are modest with economists expecting that the overall economy created only about 80,000 jobs in August. Other data includes the Chicago purchasing managers index for August and factory orders for July. North American indexes were positive Tuesday despite a survey showing a slump in consumer confidence in the U.S. after the release of minutes from the Aug. 9 Federal Reserve meeting on interest rates hinted of possible Fed action to boost the U.S. economy. Oil prices dipped after four days of advances with the October crude contract on the New York Mercantile Exchange losing 84 cents to US$88.06. Metal prices also advanced as the December gold contract on the New York Mercantile Exchange gained $3 to US$1,832.80 an ounce. Copper prices gained four cents to US$4.16 a pound.

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