TORONTO — The Canadian dollar was lower Thursday amid weak commodity prices and some positive trade data.The currency was down 0.23 of a cent to 97.52 cents US.Statistics Canada reported that the country’s current account deficit on a seasonally adjusted basis decreased $800-million to $17.3-billion in the fourth quarter.The agency said that the deficit on trade in goods was reduced by $2.3-billion in the fourth quarter to $2.8-billion. It said that this largely reflected increased exports, led by energy products and by farm, fishing and intermediate food products.Total exports of goods were up $1.7-billion to $114.5-billion in the fourth quarter. Energy products accounted for $1.6-billion of this increase, led by higher prices as volumes were down.Total imports were down $600-million to $117.3-billion in the fourth quarter.The current account is the difference between a country’s total exports of goods, services and transfers, and its total imports of the same.Other data showed the U.S. economy grew instead of contracting in the fourth quarter of 2012. The first revision to the gross domestic product report showed growth of 0.1%, against the earlier read that showed a 0.1% contraction.In the background on financial markets were worries about an Italian election earlier this week which failed to yield a clear winner and the looming U.S. sequestration. That’s the name for a series of automated, across the board spending cuts of US$85-billion set to take effect Friday.The planned sequester could hit U.S. growth if no deal is reached to avoid it. Previous experience, however, suggests a last-minute deal will be cobbled together.Commodity prices were weak with April crude on the New York Mercantile Exchange down nine cents to US$92.67.April bullion was down $5 to US$1,590.70 an ounce while May copper was unchanged at US$3.57 a pound.